Feel better before even seeing the doctor. A health savings account works in conjunction with a high-deductible health plan to cover qualified medical expenses.
Dividends above standard savings and tax advantages1 make healthcare costs more affordable. The money in your HSA isn't tied to any employer — it's yours to spend when you need it. You can use HSA funds to cover medical expenses for your dependents, too!
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Free HSA Visa® debit card
- Free online bill pay
- Earn dividends above standard savings on entire balance
- An HSA provides triple tax savings:
- Tax deductions when you contribute to your account
- Tax-free earnings through investment
- Tax-free withdrawals for qualified medical, dental, vision expenses and more1
- Contributions are tax-free and can be made by you, your employer or a third party
- Funds can be withdrawn at any time2
- $3 monthly service charge
- No minimum balance requirements
- Unused funds remain in account year after year; no "use it or lose it" policy
- Keep your HSA in your name, regardless of career or life changes
Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.
1Consult a tax advisor.
2You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.