Smart ways to save for healthcare.
The no-brainer approach to saving.
Push your money farther, with a Health Savings Account (HSA). It’s an individual savings account, funded entirely by you. Your employer may make contributions, too. Paying medical expenses with money in your HSA costs you less than if you paid for your out-of-pocket medical expenses, deductibles, or co-pays with the money in your regular checking account.
Your contributions do not count as taxable income.
It grows tax-free.
You won’t be penalized for growth.
It includes medical expenses.
Your medical expenses will not be counted.
How HSAs work
Your money is never taxed.
It’s your money.
It’s yours until you spend it.
Save for retirement.
At 65, withdraw your HSA dollars for other expenses.
Use it for family.
Pay for the medical expenses of anyone you claim on taxes.
You’ve saved up quite a bit of money in your Health Savings Account, but there’s an attractive job offer on the table. No need to worry. Your savings can go with you as you transition into the next phase of your career.
FamilyUse HSA to pay medical expenses for someone other than yourself that you claim as a dependent. As long as it’s used for qualified medical expenses and it’s for a tax dependent, it’s okay.
Put HSA towards your retirement goals. That’s right. At age 65, you can make withdrawals without being penalized, even if they are for non-medical expenses.