Health Savings Account

By establishing a Health Savings Account (HSA) - in conjunction with a high-deductible health plan - you can begin to take more control of your healthcare expenses.  Take advantage of the following HSA benefits:

Tax-Free Benefits - HSA's not only allow you to make contributions and earn interest tax-free, but your distributions are also tax-free when used for qualified medical expenses.

Flexibility in Spending - Your HSA may help you pay for any qualified medical expense, including your deductible and some over-the-counter medications.

Year-to-Year Savings - Your HSA balance will roll over from the year-to-year, allowing you to budget for your health care expenses and build up your savings to cover qualified medical expenses when the need arises.

Individual Ownership - An HSA is owned by the individual, not the employer

Contribution Options - Although this is an individual account that moves with you from career to career, your employer may choose to make contributions as an added benefit to you.  Yearly contributions are limited to the high-deductible health plan's annual deductible.  Individuals age 55-64 can make additional yearly contributions to help save for the future.  Contributions earn interest.

No monthly service charge
 

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