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).
Benefits
- 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)
Eligible?
- 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
Tax Benefits
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