Health Savings Account (HSA)

Stretch your dollars further and put more money in your pocket. Health Savings Accounts empower you to save more, spend smarter and invest in your healthcare.

HSAs are tax-advantaged employee-owned accounts that let you save pre-tax dollars for future qualified medical expenses. You can invest HSAs—and funds never expire.

Am I Eligible For A Health Savings Account?

To enroll in a HSA, employees must already be enrolled in an HSA-qualifying high deductible health plan (HDHP).

The Value for Employees

– Enjoy Lower Health Plan Premiums: HSA-qualified health plans offer lower premiums, enabling you to save potentially thousands every year.

– Keep Your Premium Savings: Just put the extra money you would’ve paid toward traditional premiums into your HSA. Voila! Long-term savings.

– Triple Tax Savings: Every dollar an employee contributes to an HSA lowers their taxable income, funds grow tax-free, and withdrawals for qualified expenses are tax-free.

– Roll Over Funds: Unlike Flexible Spending Accounts (FSA), you own your HSA. That means your entire HSA balance rolls over every year—even if you change health plans, retire, or leave your employer.

Eligible HSA Expenses

– Pain relievers

– Doctor visits

– Glasses and contact lenses

– Cold and cough medicine

– Menstrual care products

– Chiropractic care

– Insulin Testing Supplies

– Sleep aids

– Shoe inserts

– Sunscreen

– Ambulance

– Dental work and orthodontia

For a full list of eligible expenses, go to www.earn.healthequity.com/qme.