Health Savings Accounts

As the cost of health care continues to increase rapidly, Americans are looking for better ways to get affordable health coverage. Health Savings Accounts (HSAs), created by the 2003 Medicare bill offer key advantages over other medical savings accounts.

Through an HSA, individuals may save for future medical and retiree health expenses on a tax-free basis. Funds in HSAs may be withdrawn, tax-free, to pay for qualified medical expenses, including prescription drugs and long-term care. Any unused funds may be kept in the account for future medical expenses and continue to grow tax-free over the years.

Is an HSA the right option? We invite you to...

• Find out more about the benefits of these plans and how they work in the Overview of HSAs.
• Compare the features and tax treatment of HSAs with the most common medical plans: Medical Savings Accounts and Flexible Spending Arrangements.
• Read our frequently asked questions to find out more about how and when contributions and withdrawals can be made and many other details of owning an HSA.
• Get the details and forms to open an HSA.

If you have further questions, call our Client Contact Center at 800.209.9010 for assistance.

The information contained on these pages is for general educational purposes only, individuals should consult their financial advisor or legal counsel to determine how these regulations affect their unique situation.