![]() Visa is a registered trademark of Visa International Service Association,Īnd is used by the issuer pursuant to license from Visa U.S.A. The investment portion of the HSA account is not FDIC insured, not bank guaranteed and may lose value.ĤThis HSA debit card program is issued by Bank of America, N.A. You may be able to claim a taxĭeduction for contributions you, or someone other than your employer, make to your HSA.īank of America recommends you contact qualified tax or legal counsel before establishing a HSA.ĢThe Internal Revenue Service publishes a list of qualified expenses in Publication 502, Medical and Dental Expenses available atģ"Never Lose it" refers to account portability and annual rollover of accumulated assets, it does not imply you cannot lose money. Any interest or earnings on the assets in the account are tax free. If you receive distributions for other reasons, the amount you withdraw will be subject to income tax and *Please consult your tax advisor regarding state specific rules.ġAbout triple tax advantage: You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you ![]() You can select from a range of mutual fund options to give your account potential to grow tax-free over the long term to help be prepared for future health care expenses. ®3 Take charge of your health care savings by enrolling in investments. No "use it or lose it" rulesĪny unused balance carries over from one year to the next. Your health care is directly tied to living financially well – especially as we live longer. It’s yours…for life, and the funds never expire. Even if you change health plans, switch jobs or retire, your HSA goes with you. There is no time limit on when to spend your HSA funds. Your HSA belongs to you, so you can use the money in your account to pay for qualified health care expenses throughout your life-including retirement. Which qualified medical expenses 2 to pay with your HSA. You decide how much money to save in your account ( up to the IRS contribution limit) and Tax-free withdrawals: You won't pay taxes on money you withdraw from your HSA for qualified medical expenses.Īllows you to take control of your health care costs.Tax-free interest and earnings: Any interest or earnings from your HSA are tax tax-free so you keep 100% of any money your HSA savings or investments earn,īoosting the amount of money you have to cover your out-of-pocket medical costs. ![]() Pre-tax contributions: Funds contributed via payroll deduction are not subject to Federal income tax-and is also exempt from most states income tax as well.An HSA offers tax advantages that help you keep more of your hard-earned money by providing the potential for:
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