A HSA account is a trust or custodial account that is exclusively for the purpose of paying the qualified medical expenses of the HSA owner (also referred to as an account beneficiary), and the HSA owner’s spouse and dependents. The account must be designated as an HSA when it is created so that it is treated as an HSA for tax purposes.

*Contributions may be deposited by an eligible individual and/or on behalf of an eligible individual by an employer or another individual. These contributions are tax-deductible to either the HSA owner or the employer making the contribution.

Amounts deposited in the account grow tax free until distributed, and as the HSA owner, you will not owe tax on any withdrawal from the account if you, your spouse, or your dependents have incurred qualified medical expenses.

*Maximum contributions vary for eligible individuals depending on insurance coverage.

Contact Us for information on maximum contributions or any other questions you have concerning our HSA account. We will be happy to assist you with this tax-deductible account.