How an HSA Works

HSA Plans offer quality coverage, savings

HSA Plans have two components:  a lower cost, higher deductible health insurance plan and a tax-favored health savings account.

 

The money you save on premiums can be put into your tax-favored health savings account (HSA).  You can withdraw the money to help pay your deductible or other qualified health care expenses.  Once your deductible is met, the insurance plan starts paying for covered expenses.

Your unspent savings roll over year after year.

Lower premiums, tax-advantaged savings, and an attractive interest rate.

The money you save from reduced premiums can be put into your Health Savings Account - tax deductible.

 

Your health savings grow tax-deferred, and can be withdrawn tax-free to help pay your deductible or other qualified health care expenses like prescriptions, vision, or dental care. 

 

What you don't use will continue to accumulate year after year.  Then, if you ever need it for health care expenses, the money will be there. 

 

You'll earn interest on your savings beginning with the first dollar deposited!