A Health Savings Account (HSA) is a tax-advantaged acount that can be established by eligible individuals covered under a high deductible health plan to save and pay for qualified medical expenses.
Contributions made by individuals or employers are fully tax-deductible, earnings are tax-deferred and distributions used to pay for qualified medical expenses are tax-free.
- HSA contributions - by employee or employer - are excluded from income.
- HSA earnings are tax-deferred.
- HSA dollars are never taxed if used for Qualified Medical Expenses
Whether you are an employer or an individual, we can help you get answers to your questions concerning HSAs.