HSA Individual Advantages
Seize the Advantages
- Save money. You may spend less on HDHP premiums than traditional insurance. You can then use your premium savings to fund your HSA.
- Avoid taxes. Eligible contributions to your HSA are tax deductible and may nudge you into a lower tax bracket, so you could save money on your whole tax bill, not just your health care costs. Earnings on HSAs also grow tax-free, and distributions for qualified medical expenses are tax-free.
- Keep control. You decide how much to put into your HSA and which medical expenses to pay out of it.
- Save for the future. Any amount left in your HSA at the end of the year is carried forward to help you cover future medical expenses.
- Own it. HSAs can travel with you from job to job, and you always have a right to 100 percent of the money in your account.
- Cover more expenses. You can use your HSA to pay for health care that your traditional insurance might not cover, such as eye care, chiropractors and some types of therapy.
The information provided in this page is not intended to be legal or tax advice. You should consult your attorney or tax advisor for information that relates to your specific circumstances.
Fees may reduce earnings.
Product descriptions herein do not take the place of required disclosures under federal and state regulations. Please contact us for disclosures appropriate to these accounts.