Everyone wants the best care. This makes it more affordable.
Everyone knows that treatment of serious illness or injuries can run into the thousands of dollars. But even routine medical care can strain a family budget. HSA's are excellent preventative medicine because they let you set aside money for future doctor, dental and vision care - while also offering tax breaks and interest earnings.
- Use in conjunction with a high deductible health plan
- Use your savings for qualified medical expenses
- Deposits earn interest
- Tiered rate structure means bigger balances can earn higher rates
- Because HSA contributions are pre-tax, they can reduce your income tax burden
- All annual interest payments are tax-free
- Access funds easily with a debit card
- If you change jobs or move, the money stays in your account and can be used for qualified expenses
- Unused balances roll over from year to year, allowing you to build up extra reserves
- Individuals can contribute up to $3,650 annually and families can contribute $7,300
- Individuals over 55 - and not enrolled in Medicare - can contribute an extra $1,000