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IRC Section 223

Meaning

IRC Section 223 is the specific section of the United States Internal Revenue Code that establishes the legal and operational framework for Health Savings Accounts (HSAs), which are tax-advantaged savings vehicles for medical expenses. This section dictates the eligibility requirements for opening and contributing to an HSA, primarily requiring the individual to be covered by a high-deductible health plan (HDHP). In the domain of hormonal health, this code is paramount because it governs the tax-free status of contributions, growth, and withdrawals used for qualified medical expenses, including specialized endocrine testing and ongoing hormone therapy. It is a critical financial tool for individuals seeking to fund their proactive and long-term health and longevity strategies.