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#1: 72 Percent of Employers Offered This Year

Health Savings Accounts have gained in popularity among employers who use them with high deductible insurance plans – shifting medical expenses to employees. HSAs allow employees to pay for medical expenses with pre-tax dollars.

#2: No Use It or Lose It Rules

Money stays in the HSA and rolls over year-after-year until you need it. Medical expenses can be reimbursed at any time as long as the HSA existed at the time of the expense and you retained receipts.

#3: Extended Contribution Time-Frame

Like an IRA, you can contribute to your HSA up until April 15 for the prior year. For 2016 the limit is $3,350 for individuals or $6,750 for families. If you are 55 or older you can save an additional $1,000.

#4: Cover Medical Expenses in Retirement

At retirement your HSA continues to grow
and you can access your money tax-free to cover medical expenses. The rising costs of healthcare make the HSA a valuable retirement asset.

SFS