What is a health savings account?
A health savings account*, or HSA, is a tax-advantaged savings account that belongs to you and gives you more flexibility and control over your healthcare dollars. You can set aside money in your HSA to pay for qualified health expenses, tax-free. Your employer can also contribute to your HSA under certain arrangements.
HSA is always paired with a qualified high-deductible health plan (HDHP), like BlueSaver. That means you must sign up for a certain type of health insurance plan with a high deductible in order to be eligible to set up an HSA.
Save on premiums.
As a tradeoff for the higher deductible, these HDHPs have a lower monthly premium than "traditional" plans, like PPOs or HMOs. Some of the money you will save on premiums can go into your HSA instead -- tax-free, as long as you follow a few guidelines.
The money is yours.
Know your limits.
What are qualified medical expenses?
Winning with an HSA
Add new horsepower to your financial plan
Save now, cash later