Healthcare Savings Account (HSA) Information

What is a Health Savings Account (“HSA”)?

A Health Savings Account is an alternative to traditional health insurance; it is a savings product
that offers a different way for consumers to pay for their health care. HSA's enable you to pay for current qualified health expenses and save for future qualified medical and retiree health expenses
on a tax-free basis.

You must be covered by a High Deductible Health Plan (HDHP) to be able to take advantage of HSAs. An HDHP generally costs less than what traditional health care coverage costs, so the money that you save on insurance can therefore be put into the Health Savings Account.

You own and you control the money in your HSA. Decisions on how to spend the money are made by you without relying on a third party or a health insurer. You will also decide what types of investments to make with the money in the account in order to make it grow.

• HOW AN HSA WORKS
• HSA TUTORIAL (For full-screen, click on the slideshow button in the lower right hand corner
• HSA EMPLOYER'S Bancor Link with tutorial. Clcik here then on the EMployer Funding Tools square on the left of their website.
• HSA ELIGIBLE EXPENSES
• HSA PURPOSE AND QUESTIONS
• HSA IRS LINK
• HSA IRS'S FREQUENTLY ASKED QUESTIONS