Health savings account 101
HSA information to manage your plan
Keep your health care dollars under your control and in your pocket.
To qualify for an HSA, you must enroll in an IRS qualified High deductible health plan (HDHP). These plans typically offer lower insurance premium costs compared to traditional plans in exchange for a higher deductible.
HSA advantages:
- Pre-tax contributions: lowering your taxable income
- Tax-free growth: earn interest and build savings on a tax-free basis.
- Portability: the money stays with you if you change employers
- Roll over: Unused funds carry over into the next year.
- Retirement savings vehicle: funds can be withdrawn for any purpose without penalty after reaching age 65 (taxes may apply).
Benefit information
