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HSA Overview

What's an HSA?

HSA stands for Health Savings Account. It's a special savings account for people who have a high deductible health plan (HDHP). The HSA allows you to save tax-free dollars to pay for IRS-qualified medical expenses the HDHP doesn't cover.

HSAs have other benefits, too. For example:

Your HSA and savings are yours to keep year after year. There's no "use it or lose it" penalty—even if you change jobs or healthcare plans.

You can grow your HSA with investment options. And whatever you earn from HSA investments is not taxed, as long as the funds remain in your HSA account.

Why open an HSA with us?

HSA Bank is a leading provider of health savings accounts in the country. We are known for our best-in-class customer service and the quality of our HSA investment options. We have the experience to help you get the most out of your HSA.

Who can open an HSA?

If you have an HDHP – either through your employer or one you've purchased on your own - chances are you can open an HSA. However:

You must have a valid Social Security Number and a primary residence in the U.S.

You can't be covered by any other type of health plan, including Medicare.

You can't be claimed as a dependent on another person's tax return (unless it's your spouse)

How to enroll in an HSA

If you have an HDHP through your employer and they provided you with information about HSAs, please contact them for details on how to enroll.

If you’ve purchased an individual HDHP on your own and would like to open an HSA, you can easily enroll online. Rates and fees may apply.

If you have any questions, just contact our Client Assistance Center.

Find out if an HSA is right for you. Use our online calculator.

Watch our videos to learn more about HSAs.

To enroll in an HSA, you must have a primary U.S. residence as well as a valid Social Security Number.