Health Savings Accounts (HSA)
An easier way to manage the cost of healthcare and gain peace of mind.
What is an HSA?
An HSA is a special tax-sheltered deposit account for those who have a “High Deductible Health Plan” (HDHP). You can save money in your HSA, and use the funds to pay for eligible healthcare expenses.
Unlike a flexible spending account, your balances carry over year to year without “use it or lose it” requirements.
Open HSA - Family Open HSA - Individual
- Earns interest
- Features tax-deductible contributions
- You keep your contributions if you change jobs or retire
- No minimum balance requirements
- No monthly service charges with eStatements (Otherwise, $3.00/month)
- Free Mastercard® debit card
- Only $100 to open!
Am I Eligible?
To be eligible you must be under age 65 and …
- Enrolled in a qualified HDHP
- Not covered under other health insurance
- Not enrolled in Medicare
- Not eligible to be claimed as a dependent on another individual’s tax return
2020 Contribution Limits
For 2020, if you have an individual High Deductible Health Plan (HDHP) coverage, you can contribute up to $3,550. If you have a family HDHP coverage, you can contribute up to $7,100.
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