Health Savings Account (HSA)
You save for rainy days and retirement, but do you remember to save for your own health? This account lets you save money to spend on medical expenses, like doctor visits and prescription medication.
Unlike other health plans, you own this account — not your employer. So the money is yours to roll over year-to-year, and you can use the funds any time — whether it's six months or six years from now.
- Must be covered under a high deductible healthcare plan
- No setup or annual fees
- Contributions are tax deductible*
- Interest grows tax free
- Withdrawals are tax free when used for qualified medical expenses
- Money rolls over year-to-year automatically
- HSA is owned by you, not employer
- Easy withdrawal access
- Debit card option available
*Consult a tax advisor.