A health savings account (HSA) is a smart way to set money aside for your health expenses while earning interest on your balance. By placing money in an interest-bearing HSA, you can save for future medical expenses while allowing your money to grow tax-deferred. An HSA, which accompanies a high-deductible health plan, works just like a checking account. The money that you save can be withdrawn at anytime for current and future health expenses.
With an HSA:
You are in control of your health care dollars.
You, not an insurance company, decide how you spend your money.
You can save for future medical expenses.
You can use your HSA funds today or save them for future medical expenses, especially for when you are a senior.
Your money never expires.
Even if your coverage is through your employer and you change jobs or become unemployed, the money in your HSA stays with you, and is yours to use. It never expires, and can always be used for qualified medical expenses regardless of your underlying health insurance in the future.
Your money grows tax-deferred and can be withdrawn tax-free.*
Is an HSA the right choice for you? Learn more.
Interested in getting a free quote on health insurance? Contact a Benefits Consultant today!
*For qualified health care expenses
Stop by one of our branch locations to learn about more account options, products and services. You can also contact our Product Information Center directly at 410-558-3343, 1-866-362-4500 or email your question to prodinfo@1stMarinerBank.com.