Health Savings Account

 

A tax-exempt1 account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents.

  • If you are eligible, you can establish an HSA in much the same way you would an IRA.
  • Each year, you are responsible for determining your allowable annual HSA contribution.
  • 2018 Contribution Limits – $3,450 Self-Only, $6,900 Family.
  • 2019 Contribution Limits – $3,500 Self-Only, $7,000 Family.
  • $1,000 additional catch-up for eligible individuals age 55 or older by the end of the year and have not enrolled in Medicare.
  • Access your funds with special HSA Debit Card.

1Consult a tax professional for tax advice.

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