Health and Education Savings Account Workbook: Opening, Funding, and Using HSAs and 529 Plans

Understanding the tax advantages of HSAs and 529 plans is the starting point; actually opening, funding, and using them correctly is where the value is realized. This workbook course provides structured checklists, contribution worksheets, and expense tracking templates for both account types, so you can move from understanding to action. By the end of this course you will be able to determine whether your health plan qualifies you for an HSA, calculate your optimal annual HSA contribution using a provided worksheet, set up a contribution tracking template for medical expenses, select a 529 plan using a structured evaluation checklist, and track qualified education expense distributions to avoid penalties. What you will learn: - HSA eligibility verification checklist: confirming your health plan is HSA-compatible - HSA contribution calculation worksheet: annual limit minus any employer contributions, divided across payroll periods - Choosing an HSA investment option: how to evaluate the investment menu once your cash balance exceeds a set threshold - HSA receipt-tracking template: recording qualified medical expenses for reimbursement, whether immediate or years later - 529 plan evaluation checklist: state tax deduction availability, investment options, fees, and portability - 529 annual contribution worksheet: estimating future education costs, required contribution rate, and current gap - Qualified education expense tracker: categorizing withdrawals by expense type and matching them to distributions - Common 529 mistakes checklist: non-qualified withdrawals, over-funding, and beneficiary change procedures Each module presents a worked case study — a family opening an HSA mid-year, and a couple starting a 529 plan when their child is three years old — showing the calculations in the context of real decisions. Templates are presented as structured tables you can reproduce in any spreadsheet application. The workbook ends with a combined annual review checklist covering both account types. This course is designed for individuals who have decided to use HSAs or 529 plans and need a clear operational process. Suitable for those who are new to these accounts or who have opened them without a clear contribution or usage strategy. No prior financial planning experience is required. This course is informational and educational; it does not substitute for advice from a licensed financial advisor.