A Health Savings Account (HSA) is a tax-favored account designed to pay for current and future qualified medical and preventive expenses. Funds deposited into your HSA are tax deductible (reducing your federal income taxes) with some states allowing an additional deduction for state taxes.

To qualify for a HSA you must have a High Deductible Health Plan (HDHP) which can be 20% - 50% lower in premium depending on where you live. Using HSA funds, you can pay tax free for qualified medical, dental, vision, prescription drug and over-the-counter medications.  Once you reach your deductible, the HDHP covers your medical expenses according to your policy.

HEALTH SAVINGS ACCOUNT FEATURES

• You Own Your HSA With Complete Control By You
• HSAs Are Portable – They Follow You – Not Your Job Or Insurance
• Simple To Use - No Claims Review – Just Keep Your Receipts
• Tax Free Dollars For Current And/Or Future Medical Expenses
• Pay For Over-The-Counter Drugs, Vision, Dental, Alternative, & Preventive Care
• With Tax Free HSA Funds You Control Your Healthcare Decisions
• What You Don’t Spend Rolls Over Year After Year Earning Tax Deferred Interest
• Preventive Coverage & Long Term Care Can Be Paid With HSA Tax Free Dollars
• Tax Deferred Investment Opportunities – Like A Medical IRA
• Provides Tax Benefits & Retirement Options
• Lower Insurance Premiums With The Security Of Major Medical Coverage
• Available To Employers (All Sizes) Or Individuals
• Lower Administration Costs – Not Subject To ERISA
• Self Substantiation – Section 105 Claims Review Not Required
• One Time Rollover Allowed From MSAs, HRAs, And FSAs
• One Time Funding Of HSA Allowed From IRA