Health Savings Accounts
Set up a tax-advantaged plan for current or future medical expenses. HSA Bank® is one of the country’s leading HSA administrators. We have set up an innovative solution that works with High-Deductible Health Plans (HDHPs).
Take control of your healthcare savings
All you do is combine your insurance provider’s HDHP with the HSA. You pay lower premiums for your HDHP and use the savings to fund your HSA. Then, use the HSA funds to pay for eligible healthcare expenses or save for retirement.
- Contributions are made with pre-tax dollars, reducing your taxable income
- Any after-tax contributions you make to your HSA are tax deductible
- Interest earned on HSA funds is tax free1
- Unused funds roll over year to year
- Funds can be invested for the possibility of greater earnings potential2
- Set up payroll deductions or scheduled contributions
- Get an HSA Bank Health Benefits Debit Card to pay for eligible healthcare expenses
- After age 65, HSA funds can be used for any purpose without penalty (only income tax is assessed)
- You must have a qualified HDHP
- You cannot be covered by any other non-HSA-compatible health plan, including Medicare Parts A and B
- You cannot be covered by TriCare
- You cannot access your VA medical benefits for 90 days before contributing
- You cannot be claimed as a dependent on another person’s tax return
- You must have a valid email, Social Security number and a U.S. primary residence
Educate yourself on the power of HSAs
What is an HSA?
A Health Savings Account can offer you many benefits, both now and in the future
If your employer offers payroll deduction, you can contribute to your HSA on a pre-tax basis
About HSA Bank
HSA Bank is a health savings account (HSA) administrator in the United States