An HSA, when paired with a high deductible health plan (HDHP), is the smart way to pay for medical expenses. You’ll enjoy triple tax savings, including tax-free dividends that pay higher rates on larger balances, plus dividends to help you grow your funds.
And by giving you another payment option for qualifying medical expenses, an HSA will help keep your savings account healthy too. Accessing your funds is always simple with your free HSA MasterCard® Debit card, and there are no setup, monthly, or annual fees. Best of all, your HSA stays with you from year-to-year, regardless of employer.
Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.
Complete information on HSA accounts can be found at the U.S. Department of Treasury HSA Resource Center.
*Consult a tax advisor.
**You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.