HSA Employee Guide
When you’re choosing a health plan, there are many factors that affect your decision. If you want an option with flexibility, a high level of choice and tax-advantaged savings, a high deductible health plan with a health savings account might be the right choice for you. Health savings accounts (HSAs) are tax-advantaged accounts that allow you to save money and pay for qualified medical expenses efficiently. HSAs offer unique advantages, including tax savings, portability, and the ability to roll over unused funds year after year.
HSAs were created in 2003 to provide individuals who have HDHPs with a tax-preferred method of saving money for medical expenses. There are certain advantages to putting money into these accounts, including investment earnings and favorable tax treatment. The rationale behind the HSA/HDHP combination is that people will have a clearer idea of their medical costs and more control over their spending, enabling them to reduce their medical costs.
Key Insights from the Guide
What Are HSAs?
Why Have an HSA?
Is an HSA Right for You?
How Do HSAs Work?
Annual Contribution Maximum
Saving With an HSA
HSA Recordkeeping
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The content of this document is of general interest and is not intended to apply to specific circumstances. It should not be regarded as legal advice and not be relied upon as such. In relation to any particular problem which they may have, readers are advised to seek specific advice. © 2025 Zywave, Inc. All rights reserved.