Benets of an HSA beyond Pre-Tax Savings

Funds Rollover From Year to Year

1

There is no limit to how much you can save. Funds r are not "use it or lose it."

2 Contributions are Flexible

You are not locked into a contribution amount during the year. If your health or nancial circumstances change, you can increase or decrease your contribution amount...just stay within the IRS maximum!

More Benets at Age 65

3

After you turn 65, you can continue to use your HSA for qualied medical expenses or you can use the funds for nonqualied expenses. If you use the funds for non-medical needs, you will be taxed, but you will not be penalized.

Flexible Spending Account FSA

For employees enrolled in a nonqualied high deductible plan or for those that waive coverage

Employers partner with Third Party Administrators to give you access to pre-tax funds via debit card or claim reimbursement.

Must use the funds on qualied medical expenses for you and your tax dependents only

The money is generally "use it or lose it," meaning it must be spent within the plan year.

Understanding all the details.

If this plan is available to you, ask your employer for a copy of the Summary Plan Description to understand all the rules.

There are annual maximum contribution limits.

You must verify expenses as qualied using a smart debit card or by submitting paperwork to the Third Party Administrator.