Let’s say you currently deduct insurance premiums as a self-employed individual or S corporation owner on page 1 of Form 1040.

Let’s say further that you search for your high-deductible policy and find one with a $2,400 deductible that will save you $200 a month on your existing premiums of $440.

You now establish an HSA and contribute $2,400 and then withdraw $300 during the year for medical expenses.

(Note, we recommend that you always contribute the maximum of $3,050 ... Log in to view full article.