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Take Control of Your Health Care Decisions with a Health Savings Account
A Health Savings Account (HSA) gives you more flexibility and control over your health care costs. That's because it empowers you to make your own health care decisions.
A HSA is an alternative to traditional health insurance. It's a savings product that allows you to pay for current out-of-pocket health expenses AND save for future medical and retiree health expenses. It's funded with pre-tax dollars and grows tax free. Withdrawals are not taxed as long as they're used for qualified health-care expenses.
Now, you can set up a HSA at THFCU. And, there are no account opening fees or annual maintenance fees!
HSA benefits:
- Protection – You will have an opportunity to save money to pay high or unexpected medical bills.
- Affordability – High health insurance policy deductibles mean lower premiums.
- Savings – Your ability to deduct your contributions and the tax deferral of account earnings enable you to build your account.
- Flexibility – You can contribute at any time during the year, and your HSA balance rolls over from year to year.
- Portability – You own your account, so it goes where you go, regardless of any job changes.
Give us a call at 834-2266. If you want to supplement your retirement income, or simply save more to cover health-care costs in retirement, set up a HSA at THFCU. We can run the numbers, explain this year's contribution levels, and help you maximize your tax savings.
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