What is an HSA?
An HSA is a pre-tax savings account that can be used for a variety of medical costs, including qualified deductibles and copayments. Money from HSA funds can be used in conjunction with eligible high-deductible insurance plans.
Fifth Third Bank is working with HealthEquity to offer you access to the largest non-bank custodian of Health Savings Accounts. Whether you’re an employer or individual, we’re here to help you manage savings for medical expenses and plan for the future.
Employers and Individuals
An HSA paired with an HSA-qualified health plan empowers you to invest in your healthcare and create long-term savings for unexpected medical costs and more. Check out these common Health Savings Account benefits:
Maximize tax savings
Enjoy tax-deductible contributions, tax-free earnings, and tax-free distribution of qualified expenses.
Roll over funds
Keep your HSA dollars year after year—even if you change employers or health plans. Funds never expire.
Save for retirement
An HSA works like a second 401(k). Invest2 your money in low-cost mutual funds and build the ultimate retirement nest egg
Ready to open an HSA account?
Employer HSA Benefits
Improve employee retention with competitive benefit plans that include HSAs. From lower employee premiums to tax savings benefits, connect with us to learn more and get started.
Health Savings Account FAQs
Every dollar you contribute to an HSA and spend on eligible health and medical expenses is pre-tax, meaning you can essentially pay your medical bills with pre-tax money. Those are significant savings, no matter what tax bracket you're in.
It’s never too early to begin setting yourself up for retirement—and getting started is easier than you think. Here are three different types of retirement savings vehicles that you can set up now and watch them grow into the future.