Use pre-tax dollars to pay for future medical expenses!
You will be able to deduct your contributions to your HSA, and account earnings will accumulate on a tax-deferred basis. Best of all, distributions from your HSA are tax-free if they are used for medical expenses.
Benefits of an HSA include:
- Contributions to HSAs are not subject to federal income taxes.
- Earnings to an HSA from interest and investments are tax-free.
- Distributions from an HSA to pay for qualified medical expenses are tax-free.
- No monthly fee.
- No opening fee.