When paired with a high-deductible healthcare plan, a health savings account (HSA) gives you the opportunity to save pre tax money for current and future medical expenses.
When you open an HSA, you can contribute monthly funds to your HSA and access them when you need them for eligible medical expenses such as urgent care trips, dental exams, prescriptions, glasses, contacts, and more.
With an HSA, you get a triple tax advantage:
- HSA contributions are tax-deductible (up to the yearly limit)
- You can spend your savings tax-free on eligible medical expenses
- Your funds grow tax-free
Your unused HSA funds rollover from year-to-year, so you can save for future, unknown or planned, medical expenses. If you change employers or change your insurance plan, you can take your HSA funds with you.
Accessing your funds is easy with the convenience of your HSA Debit Card.
Have questions? Give us a call today at (636) 464-5037 or find a Century Credit Union location near you.