What are the benefits of an HSA?
High Deductible Health Plan:
- Costs less than more traditional copay plans
- Provides quality health insurance
HSA Savings:
- Used to meet your deductible
- Tax deductible off of gross income
- Grow tax deferred
- NEVER taxed when used for qualified medical expenses
- Roll over year after year -- no "use it or lose it"
- Portable, also goes with you
HSA Savings Can Also Be Use For:
- Health premiums when you're between jobs
- Qualified long-term care premiums
- Health premiums after age 65 (but NOT Medicare supplements)
- Living expenses -- after age 65 -- pay ordinary income taxes
