
1. TAX SAVINGS
Federally Qualified HSA contributions can be deducted from your gross income on your federal tax return, even if you do not itemize deductions.
Many states also allow the deduction from state income taxes.
2. TAX DEFERRED INTEREST & EARNINGS
Funds left to accumulate in your HSA can grow with tax deferred interest and earnings.
3. REDUCED INSURANCE PREMIUMS
Your insurance premiums are usually lowered by 20%-40% when you change from a low deductible to a high-deductible plan.
You can use these savings to fund your HSA.
4. PORTABILITY
Even if you change jobs, your HSA funds go with you.
You own your account.
5. LONG-TERM SAVINGS
You can choose to let the funds in your account grow tax-deferred.
After age 65, you may make withdrawals from your HSA for any reason without a penalty.
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