Investment for tomorrow.
A health savings account (HSA) combines the immediate benefits of a flexible spending account with the retirement strategy of a 401(k)…
and offers more tax advantages than either.
Contributions to your HSA are either pre-tax or tax-deductible
HSA contributions and interest grow tax-free
Withdrawals for qualified medical expenses are tax-free
Keep Your Savings
The money in your HSA rolls over year after year (it’s not use-it-or-lose-it like a flexible spending account).
Grow Your Savings
You can invest your HSA funds and let them grow long-term like an IRA or 401(k).
Take It With You
Because HSAs are individually-owned, they stay with you when you change jobs or retire. And even if you become ineligible to contribute to your HSA, you can continue to pay for qualified medical expenses tax-free from the funds currently in your account.
Pay for Your Family
You can use your HSA funds to pay for your spouse or children’s qualified medical expenses, even if they’re on different health plans or ineligible for HSAs. Qualified medical expenses include doctor’s visits, prescriptions, dental bills, and more.