Making Health Care Affordable
A Health Savings Account (HSA) is a tax-exempt trust account that you can put money into in order to save for future medical expenses, in conjunction with a ‘high deductible health plan’ (HDHP). Consumers who have an HDHP are often able to save money on healthcare costs by taking advantage of lower cost high-deductible insurance and paying out-of-pocket costs with pre-tax dollars.
It’s the simplest way to save and spend your health care dollars, with unlimited access to your funds by check or debit card. Minimum balance to open is $100. No monthly service charge. Unlimited check writing. No minimum deposits; tiered interest rate.
For more information about HSAs, visit:
HSA Resources at Internal Revenue Service
IRS Publication 502 - a list of includible and not includible medical expenses is available at www.IRS.gov (enter HSA or Publication 502 in the search box in the top-right corner of the page)
IRS Publication 969 - ‘Health Savings Accounts & Other Tax-Favored Health Plans’ at www.IRS.gov (enter HSA or Publication 969 in the search box in the top-right corner of the page)
To open an HSA Checking account, visit any office of Woodsville Guaranty Savings Bank or contact us today.