Top 5 Reasons To Open An HSA
Contributions are tax-free, potential interest accumulates tax-free and distributions are tax-free when used to pay for qualified medical expenses.
At age 65, any remaining HSA funds can be withdrawn for non-medical reasons without penalty. Ordinary income tax will be charged on the money withdrawn for non-medical reasons.
The employee owns all HSA account funds. The accumulated balance in the account rolls over from year to year. Accounts move with employees even if they change employment or retire.
A debit card provides employees with an easy and convenient way to access HSA contributions. Paper checks are even available upon request.
Employees can select from a wide array of investment options to match their preferred investment style. Investments are offered through Devenir.*
*Investment products and services:
- are not insured by the FDIC
- are not deposits or other obligations of the institution and are not guaranteed by the institution; and,
- are subject to investment risks, including possible loss of principal invested.