Your Health, Your Savings.
Health Savings Accounts (HSAs) are tax-advantaged savings accounts designed for individuals with High Deductible Health Plans (HDHPs). HSA funds roll over year to year and remain yours even if you change jobs or insurance plans. Be sure to consult with a competent tax advisor regarding if an HSA is right for you and regarding your HSA deductions and how to claim tax-free HSA distributions.
Tax-free distributions
Withdraw funds tax-free for qualified medical expenses, including deductibles, copayments, prescriptions, and more.
Tax-deferred earnings
Your HSA balance grows tax-deferred, allowing your savings to compound over time.
Tax deductions
Contributions are tax-deductible, reducing your taxable income for the year.
Accessibility to HSA assets
Access your funds when you need them for qualified medical expenses, with no "use it or lose it" restrictions.
Balance carried over from year to year
Unlike FSA accounts, unused HSA funds roll over indefinitely, building your healthcare savings over time.
Yours wherever you go
Your HSA stays with you even if you change jobs, insurance plans, or move to a different state.
Control of contributions and investments
You decide how much to contribute (up to IRS limits) and how to invest your HSA funds for potential growth.
Additional source of retirement income
After age 65, you can withdraw HSA funds for any purpose without penalty (subject to income tax if not used for medical expenses).
Lower insurance premiums on High Deductible Health Plans (HDHP)
HDHPs typically have lower monthly premiums, and your HSA helps you cover the higher deductible with tax-advantaged savings.