Tax Treatment of Health Savings Accounts (HSAs) in California
California medical insurance that is compatible with Health Savings Accounts (HSA) enables employers, employees, families and individuals to spend less on their health insurance. Increasingly, people are choosing HSA compatible medical insurance plans, yet California - unlike the Federal government - currently does not allow individuals or companies to deduct HSA contributions from California state income taxes. This article describes the current California tax treatment of HSAs, references an excellent article on HSAs and Archer MSAs, and cites SB 173, pending legislation that would allow the tax deductibility of HSA contributions in California.
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