Health Savings Account (HSA) Resources
Health Savings Accounts (HSAs) are a great way to pay for current and future healthcare expenses. HSAs offer a triple tax advantage where contributions are tax deductible or pre-tax if made through payroll contributions, interest earned is tax free and withdrawals are tax free as long as they are used for qualified medical expenses. Once a threshold is reached, there is an opportunity to invest in a variety of mutual funds. This site includes information to help you decide if an HSA is right for you in addition to resources to help manage your HSA and plan for future savings.
HSA Contribution Limits
| 2019 | 2020 | 2021 | ||||
|---|---|---|---|---|---|---|
| Single | Family | Single | Family | Single | Family | |
| Contribution Limit | $3,500 | $7,000 | $3,550 | $7,100 | $3,600 | $7,200 |
| Catch-Up Contribution (55 or older) | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Minimum Deductible | $1,350 | $2,700 | $1,400 | $2,800 | $1,400 | $2,800 |
| Maximum Out-of-Pocket | $6,750 | $13,500 | $6,900 | $13,800 | $7,000 | $14,000 |
How to Use Your HSA Account
Using your HSA is easy. You can use HSA funds for a trip to the pharmacy, a visit to the dentist or doctor, and hundreds of other qualified medical expenses. There are two ways to use your HSA: You can use the HSA debit card provided to you to pay for a qualified medical expense at checkout or you can wait until you receive your Explanation of Benefits from your insurance company to compare with the bill from your healthcare provider. You can then pay for the bill using your HSA funds.
HSA Videos
The videos below can help you make an informed decision about enrolling in an HSA plan.
What is an HSA?
HSA vs FSA
How does an HSA work?
Growing Your HSA
Additional Resources
Get the Most from Your HSA
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.
Set Up Early for Retirement Success
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.
The HSA Another Retirement Savings Tool
Health savings accounts (HSA) are a versatile savings vehicle, including being able to be used for additional retirement savings.
We're here to help:
HSA Limits
| 2018 | 2019 | 2020 | ||||
|---|---|---|---|---|---|---|
| Single | Family | Single | Family | Single | Family | |
| Contribution Limit | $3,450 | $6,900 | $3,500 | $7,000 | $3,550 | $7,100 |
| Catch-Up Contribution (55 or older) | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Minimum Deductible | $1,350 | $2,700 | $1,350 | $2,700 | $1,400 | $2,800 |
| Maximum Out-of-Pocket | $6,650 | $13,300 | $6,750 | $13,500 | $6,900 | $13,800 |