What is an HSA?
An HSA is a tax-favored savings account used in conjunction with a high-deductible health plan (HDHP). And it's easy to use!
You contribute funds to an HSA on a pre-tax or tax-deductible basis, then you use those tax-free funds to pay for eligible medical expenses.
Wondering if an HSA right for you? Our calculating tools will help you decide.
Why open an HSA?
HSAs put you in the driver seat! You take ownership of your healthcare spending and save for the future. Here are a few benefits of an HSA:
• Make healthcare dollars work for you: HSA earnings grow tax-deferred, and can be invested for greater account growth.
• Grow your account: If you don't use your HSA funds, save them for next year. Or, better yet -- save the funds for retirement!
• Take control of healthcare spending: You decide when to use your HSA, or when to pay out-of-pocket.
Click here to learn more about the HSA's many benefits.
Are you qualified for an HSA?
It's easy to determine if you are qualified for an HSA. You qualify for an HSA:
• If you are covered by a single or family high-deductible health plan (HDHP).
• If you are not covered by another health plan that provides any of the same benefits as the HDHP.
• If you are not enrolled in Medicare.
• If you cannot be claimed as a dependent on another person’s tax return.
Ready to open an HSA?
If you are eligible for an HSA, then why not open an account today?
It is easy and affordable to sign up with HSA Bank. There are no set-up fees and a simple enrollment process. Click here to apply for an HSA.
For further information about HSAs, click here.