Health Savings Accounts

Health Savings Accounts (HSAs) function like a 401(k) for healthcare.  They are tax-advantaged personal savings account where funds can be used to save and pay for qualified health expenses, now or in the future.

Employer Benefits

  • Lower costs for health care
  • More predictable costs (HDHPs have stable rates)
  • Give employees more control over health care
     

Employee Benefits

  • Pre-tax or tax-deductible contributions to the HSA
  • Tax-free interest or investment earnings
  • Tax-free distributions, when used for qualified medical expenses
  • No “use-it-or-lose-it” provision like with Flexible Spending Account (FSA)
  • HSAs are portable

 

Health Savings Accounts

Eagle Bank in the Community

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