Getting sick is not fun. Worse, the expensive medical bills and damage to our liquid net worth. Fortunately, the IRS has several tax breaks for health care.
For 2022, the definition of a qualified individual HDHP must have an annual deductible of $1,400 or more, and annual out-of-pocket expenses must not exceed $6,900.
The Internal Revenue Service defines qualified medical expenses as the costs of cure, mitigation, diagnosis, treatment, or the prevention of disease affecting any part or function of the body.