Health Savings Accounts (HSAs) are, in our opinion, the best tax-savings vehicle in existence. 1. You can deduct the amount you contribute (up to a maximum deduction of $9,000/year). 2. The money in the HSA grows tax-free. 3. In addition, you don’t have to pay tax when withdrawing the money from the HSA. There is no other tax-savings vehicle that provides all 3 of these benefits. Traditional IRAs and Traditional 401Ks only allow a deduction of contributions but not the other 2 benefits. Roth IRAs and Roth 401Ks only allow tax free earnings and tax-free withdrawals, but not deductible contributions. If you qualify, be sure to contribute the maximum each year to your HSA.