HSA Overview

A High-Deductible Health Plan (HDHP), coupled with an Health Savings Account (HSA) gives you a way to pay for qualified medical expenses and build your savings for the future.

You, your employer, or both can deposit tax-free money into an HSA. Best of all, unused funds roll over year to year!

NOTE: An HDHP and an HSA are two separate entities.  You can have an HDHP and choose not to pair it with an HSA.  However, in order to have an HSA you must have an HDHP.

HSA Benefits

Lower taxes - contributions to your account and the interest it earns are tax-deductible.

Freedom of choice - the funds belong to you, so if you leave your current plan or employer, your HSA follows you and is still available for use.

Long-term growth potential - unused money rolls over year to year and earns tax-free interest, giving you an investment opportunity.

Convenience - money can easily be withdrawn by check or debit card to pay for qualified medical expenses.

Additional cash at retirement - when you reach age 65, any money in your account is available to you to spend as you choose, subject to normal taxes.