Save for Medical Expenses
A Health Savings Account (HSA) helps you specifically save for health care costs. You control what health expenses the funds are used for and the money in the account rolls over from year to year.
Please consult your tax advisor for advice.
HSA Account Requirements
- Must have a qualifying HDHP (High Deductible Health Plan) to open
- Not be enrolled in Medicare
- No other medical coverage
- Not claimed as a dependent on someone else’s tax return
The deadline for annual contributions is the tax filing date.
Beneficiary Info to Bring
- Their Full Name
- Their Address
- Their Birth Date
- Their Social Security Number
- Their Relationship to Owner
Banzai Learning Resources
Health Savings Account Article
If you have a high-deductible plan, you can allocate tax-free income toward your health with a health savings account.
How to Make the Most of your HSA or FSA
Learn the difference between a HSA and FSA, and predict your health care costs.