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Health Savings Accounts (HSAs)

The HSA Advantage

  • A Health Savings Account (HSA) is a special tax-advantaged account that employees and their family members can use to pay for all kinds of qualified medical expenses - from deductibles and co-insurance to pharmacy bills, dental care, vision care and much more.
  • Your employees make pre-tax contributions to their HSA via payroll deduction or check, and you can elect to match their contributions in any percentage you choose.
  • Once deposited, the money grows tax-free in employees’ accounts year after year, much like an IRA. Employees can withdraw HSA funds tax-free to pay for qualified medical expenses, and unspent funds carry over - there is no "use it or lose it" provision at the end of each year.
  • These funds belong to your employees, even if they change jobs. Money for non-medical expenses can be withdrawn on a taxable basis for any purpose after age 65 - so unused HSA funds can even help fund a more comfortable retirement.


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