HSA Information
A Health Savings Account (HSA) is a tax-benefited account that allows the individual to save money (and earn interest on those savings) specifically for health care related expenses.
- HSA accounts are owned by the individuals
- HSA funds are tax-exempt when used for eligible medical expenses
- HSAs can be used to pay for Long Term Care and COBRA premiums
- HSA savings earn interest
- HSA deposits can be made pre-tax via payroll deduction
- HSA contributions are treated similar to IRAs; they are both allowed an above the line deduction on your Federal tax return
Interested in setting up your own HSA? Request more information!