• Health Savings Account (HSA)   

    A Health Savings Account (HSA) is a tax-favored account used for qualified medical expenses. The HSA is only allowed when paired with a qualified High Deductible Health Plan (HDHP).With an HSA, your money is deposited through payroll deduction, tax-free, and is only available after the funds are deposited. The HSA funds can be used for qualified medical expenses not covered by insurance or for costs you incur before meeting your deductible. With an HSA, you decide which qualified medical expenses you would like to pay with your savings, this can include copays, coinsurance, prescriptions, vision and dental care, and more. The funds in your HSA grow tax-free until you need it most, and roll over year to year to create even more savings.

    The maximum allowable contribution for an individual is established annually by the IRS. The IRS also allows an additional contribution as a “catch-up” for anyone age 55 or older.

    For more information about the HSA please visit the link below.