Health Savings Accounts

An HSA is a tax-favored saving account that is used in conjunction with a high-deductible HSA-eligible health insurance plan to make health care more affordable and to save for retirement. HSA’s are similar to an IRA but with some additional advantages:

  • Pre-tax money is deposited each year into an HSA and can be easily withdrawn at any time with no penalty or taxes to pay for qualified medical expenses. Withdrawals can also be made for non-medical purposes, but will be taxed as normal income and are subject to a 10 percent penalty if done prior to age 65.
  • Any HSA funds not used each year remain in the account, and earn interest tax-free to supplement medical expenses in the future.
  • Like an IRA, the account belongs to you, not your employer. But unlike an IRA, your employer can contribute to your HSA.

Learn More

?

Request Quote

Interested in:
MedicalPharmacyVisionDentalDisabilityLifeVoluntaryLong-Term CareFinancial Planning401K/Retirement Plans

View our privacy policy.

Signup to receive our newsletter

In our newsletter you will receive information related to the latest trends in the benefits and financial industries with editorial from our own in-house experts.

You have Successfully Subscribed!