Heath Savings Account

A Health Savings Account (HSA) is an easy and smart way to pay for qualified medical expenses for you and your dependents.

With its tax-advantages, easy access to savings, and future growth potential it’s an effective savings vehicle that provides benefits today and in the future.

To qualify for an HSA you need to a health insurance plan known as a high-deductible health plan (HDHP). High-deductible health plans have lower premiums and higher deductibles. And to qualify for an HSA, the HDHP must satisfy certain IRS requirements with respect to deductibles and out-of-pocket expenses.

Use HSA money for qualified medical expenses. These costs generally include payments to doctors or dentists, over-the-counter prescription drugs, imaging such as MRIs, medical services (such as home care) and medical equipment or supplies.

You can also reimburse yourself for any qualified medical expenses that your insurance didn’t cover and you had to pay out-of-pocket.