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Have you opened your HSA?
Click on the HSABank logo to get started today!
Health Savings Account (HSA) |
"This plan provided significant coverage, yet was very cost effective and provided a great tax deduction as well"
Lin Shurtleff | |
Group and Individual Medical Insurance Plans!
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High Deductible Insurance Plan
Savings Account |
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Less Insurance Premiums and Savings for future medical expenses | |
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They're new and available for all Americans under age 65. They're simple and easy to understand! They save premium and reduce taxes! They offer new saving and investment opportunities!
The premium savings on a HSA plan is lower versus typical copay and low deductible medical insurance plans. |
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Tax Advantages - Save in Premium and Taxes
- Deposits and earnings in the HSA are not taxed.
- The earnings on the money is not taxed.
- Use of the HSA money is tax free for qualified health expenses, as defined by the IRS.
- No "us it or lose it" provision, such as with a Flexible Spending Account (FSA).
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Portability-You Own the Money in the Savings Account
- Money in the HSA is owned by the individual, and is taken with them, when leaving an employer.
- Funds can be used for COBRA premium or for insurance while unemployed.
- Funds can be used for Long-Term Care Insurance premium.
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Medical Savings Accounts (MSA): Are closed to new enrollment, but there is a grandfather provision for account holders that established the account prior to January 1, 2004. IRS Publications or general information. |
