Health Savings Account

A Health Savings Account (HSA) is like a personal savings account, but the money is used only for qualified healthcare expenses. The account can be used not only for your qualified medical expenses but also those of your spouse and tax dependents. Regardless of whether they are covered by your insurance or not.

Established in 2003 as part of the Medicare Prescription Drug, Improvement and Modernization Act, HSAs allow people with High-Deductible Health Plans to pay for current healthcare expenses and save for future expenses on a tax-favored basis. Here, we look at the eligibility requirements, pros and cons and other important details about Health Savings Plans.

Please refer to the flyers below for more information on your Health Savings Account