Health Savings Accounts, or HSAs, are tax-favored consumer savings arrangements for individuals and families covered by high deductible health plans (HDHPs).
An HSA is an IRA-like account that is designed exclusively for covering medical expenses incurred by the HSA owner, the HSA owner's spouse and his or her dependents.
Four Years of College - National Average (Tuition, Room & Board)
|HSA ANNUAL CONTRIBUTION LIMITS
|HDHP Single Plan Coverage
|HDHP Family Plan Coverage
Eligible individuals, who are age 55 and older, may make HSA catch-up contributions (up to $1,000 for 2018 and 2019 alike).
HSA contributions (by the HSA owner) are excluded from taxable income.
HSA earnings are tax-deferred.
If used for qualified medical expenses, HSA assets are never taxed.
Open your Health Savings Account over the phone at