Top Five Reasons You Should Open an HSA

1. Financial Security

An HSA can help you build a financial cushion to protect you and your family from unexpected or unplanned medical bills. Start saving for today's needs or build a nest egg to fund future medical expenses in retirement.

2. Triple tax savings opportunity

An HSA from SelectAccount can offer some significant tax benefits. For starters, you can put money into your HSA before taxes are taken out of your paycheck, decreasing the taxes on your income. Interest earnings and investment gains on your HSA savings grows tax-free. Withdrawals for qualified medical expenses are also tax-free.

3. Ownership

Your HSA is yours and yours alone. If your employer contributes to your account, the funds are yours. Your HSA can stay with you even if you change jobs, change medical coverage, become unemployed, or retire.

4. Benefits aren’t lost

There are no “use it or lose it” rules with an HSA. Your savings stay with you from year to year, just like an IRA. As long as the money is spent on eligible health care expenses, tax benefits won’t be lost - even if you don’t spend the money until later.

5. More control

An HSA gives you more control over how your health care dollars are spent. You decide how much of your money is deposited and how the money will be used including paying for expenses that insurance may not cover.