Health Savings Account

Pay for qualified medical expenses now and into retirement with an account that stays with you.

Benefits

• • Greater personal control over healthcare management and expenses
  • Prepare for qualified medical expenses
  • 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 more
  • Contributions are tax-free and can be made by you, your employer, or a third party
  • Funds can be withdrawn at any time for qualified medical expenses
  • No monthly service fees
  • No minimum balance requirements
  • Unused funds remain in account year after year; no “use it or lose it”
  • Keep your HSA in your name, regardless of career or life changes
  • Easy ways to access your HSA funds:
    • Free HSA debit card
  • $100 minimum deposit to open

Eligibility

You are eligible for an HSA account if you meet this criteria

• Covered under a qualified high-deductible health plan (HDHP)
• Not entitled to benefits under Medicare
• Not able to be claimed as a dependent on another person’s tax return

* Please contact your tax advisor for further eligibility requirements.

HSAs for Retirement Planning

HSAs can be used as an additional option for retirement planning.

Because there is no use-it-or-lose-it requirement, unused balances can carry forward into retirement, tax free. A consumer can spend out of pocket for medical expenses while working, and save the balance in the HSA for retirement for any purpose and the funds are considered regular income.

*Contact your tax advisor. Account are subject to IRS rules and regulations.