A Healthcare Savings Account (HSA) gives you many advantages in saving for future health care expenses. Authorized by federal legislation, HSAs have been called the “medical IRA” because they offer tax advantages on all contributions, interest and qualified withdrawals.
If you have a qualified high deductible medical plan, you can use an HSA to obtain:
- Greater control over your health care dollars
- Funds for a broader range of health care services
- Tax Advantages
- A retirement income supplement