HSAs to Z

HSAs are personal savings accounts that help you save big on healthcare expenses you have now, and those you’ll have in retirement. The key benefit is tax savings. HSAs are the only account that you can put money into, gain interest on, and use to pay for IRS-qualified healthcare expenses, all tax-free. This means a lower tax bill for you, too. Learn more about this account with triple tax perks that take you from safety net to nest egg.

To open and contribute money to an HSA, you need to have a qualified high-deductible health plan (HDHP). Unlike traditional health plans like PPOs, HDHPs typically have lower premiums (those payments you make for your health insurance). Think of it this way: If you select an HDHP with a lower premium and put what you save from the lower premium into your HSA, that money stays with you rather than going to the insurance company. And it can be used to save on healthcare costs!

The money in your HSA never expires. Even if you change jobs, switch health plans, or retire. It’s your money — for life. That means you don’t have to spend your HSA funds at the end of each year. Just another reason why HSAs are such a great way to save for retirement. Your HSA is here to stay.