An HSA with a high deductible health plan (HDHP) is the money-savvy way to pay for qualifying medical expenses. You’ll enjoy triple tax savings, including tax-free dividends that pay higher rates on larger balances, plus dividends to help you grow your funds. And by giving you another payment option for qualifying medical expenses, an HSA will help keep your savings account healthy too. Best of all, your HSA follows you from year-to-year, regardless of your current employer.
Health Savings Account (HSA)
Watch a Brief Video About HSA's
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Earn dividends above standard savings on entire balance
- Competitive, tiered rates; higher balances earn higher rates
- Contributions are tax-free and can be made by you, your employer, or a third party
- No setup fees
- No monthly service fee
- No minimum balance requirements
- Free online banking
- Free eStatements
- Free HSA debit card
- $25 minimum deposit to open
Control - You make all the decisions about:
•How much money to put into the account
•Whether to save the account for future expenses or pay current medical expenses
•Which medical expenses to pay from the account
•Which company will hold the account
Portability - Accounts are completely portable, meaning you can keep your HSA even if you:
•Change your medical coverage
•Move to another state
•Change your marital status
Ownership - Funds remain in the account from year to year, just like an IRA. There are no "use it or lose it" rules for HSAs.
Tax Savings - An HSA provides you with triple tax savings:
•1.) tax deductions when you contribute to your account;
•2.) tax-free earnings through investment; and,
•3.) tax-free withdrawals for qualified medical expenses.
Be sure to consult your tax adviser regarding the tax advantages of your HSA
Invest in your health.
*Consult a tax advisor.