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Health Savings AccountsHealth Savings Accounts (HSA) were created to help you manage your health care expenses without risking health care coverage.
Helpful Forms:
An HSA gives eligible individuals the option to establish a tax-exempt account where funds can be deposited to pay for medical expenses up to the deductible amount or for expenses not covered by the health insurance plan. One of the tremendous benefits of an HSA is the ability for the funds to accumulate from year to year if they were not needed for medical expenses, allowing the individual to "bank" funds for medical needs. If you're a participant in a High Deductible Health Plan (HDHP), you would benefit from considering a Health Savings Account. An HDHP is a health insurance plan with an annual deductible of at least $1,100 for self-only coverage or $2,200 for family coverage. View Current Rates
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Frequently Asked QuestionsWhat is a Health Savings Account?
{q1}
Am I Eligible for an HSA?
{q2}
What is an HDHP?
{q3}
Are There Other Requirements for the HDHP?
{q4}
What are an HSA Owner’s Responsibilities?
{q5}
Who can contribute to my HSA?
{q6}
How Much Can I Contribute to My HSA?
{q7}
What are the Federal Tax Benefits of an HSA?
{q8}
How Do I Claim the Federal Tax Deduction for My HSA Contribution?
{q9}
When is the Contribution Deadline for Funding an HSA?
{q10}
How are HSA Distributions Taxed?
{q11}
How is HSA Activity Reported?
{q12}
What Happens to My HSA in the Event of My Death?
{q13}
What Medical Expenses Are Includible?
{q14}
What Medical Expenses Are Not Includible?
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