WHAT IS A HEALTH SAVINGS ACCOUNT?

HSAs work in combination with HSA-compatible health plans. The health plan is used to cover serious illness or injury, while the HSA is used for current or future expenses that are not paid by the health plan.

Why Open an HSA?

 Flexible Options

 

Even if your HSA-compatible coverage ends, you can still use your HSA funds tax-free for eligible medical expenses.

Contributions can come from employers, accountholders or third parties.

There is no “use it or lose it” philosophy. If you don’t use it, save it for next year. Or better yet, for retirement.

You can fund your HSA with an existing HSA, MSA, HRA or IRA.

You’re in control. You choose when to use your HSA or pay out-of-pocket.

After age 65, HSA funds can be used for non-qualified expenses and only income tax is assessed.

Tax Advantages

 

HSA contributions are tax-free or tax-deductible.

Withdrawals are tax-free when used to pay for qualified medical expenses.

Earnings grow tax-deferred.

Long-term Investment Opportunities

 

HSA funds can be invested for greater earning potential.

Choose from a wide variety of stocks, bonds and mutual funds.

FOR MANY YEARS NOW, CHOICE ONE HEALTH & LIFE
HAS WORKED WITH AND TRUSTED HSA BANK FOR THE
HEALTH SAVINGS ACCOUNT NEEDS OF OUR VALUED CLIENTS:

CLICK ON LOGO TO VISIT HSABANK.COM

HSABANK.COM CAN PROVIDE YOU WITH ALL THE INFORMATION YOU NEED
TO MAKE AN INFORMED DECISION ABOUT WHETHER AN HSA PLAN IS RIGHT FOR YOU.
IN ADDITION, YOU WILL FIND A MYRIAD OF TOOLS DESIGNED TO HELP YOU NOT ONLY
LEARN MORE ABOUT HSAs AND HOW THEY WORK, BUT ALSO AS A RESOURCE TO
HELP YOU MANAGE YOUR HSA ACCOUNT.



AS AN HSABANK ACCOUNT HOLDER,
YOU'LL FIND HELPFUL TOOLS SUCH AS:

 Online Forms

Access the account forms you need to maintain your account, including: tax, contribution, withdrawal, disclosure and other miscellaneous forms.

 Filing Your Taxes

Access the necessary forms and information you need to complete your HSA-related tax filing with the IRS.

 How to Make a Contribution

Contributions to your Health Savings Account are tax-free. Learn about all the ways you can make contributions to your account including: payroll deductions, online transfers and mail-in options.

 

 How to Withdraw Funds

HSA account holders have four convenient options for withdrawing funds from their accounts. Choose from a Visa® debit card, online transfers, checks or use the withdraw form.

 How to Make Changes to Your Account

As your life changes, HSA Bank makes updating your account information easy. Make changes to your address, authorized signers, beneficiaries, name and other account information.

 HSA Calculators

Find out how an HSA can work for you and calculate your tax savings and future value potential. 
 

 

 
Contribution Limits

Maximum Contributions

The 2011 IRS contribution limits are the same as the IRS contribution limits for 2010: $3,050 for single plan coverage and $6,150 for family plan coverage.

2011 IRS Limits
	Single Plan	Family Plan
Minimum Deductible	$1,200	$2,400
Maximum Out-of-pocket	$5,950	$11,900
Maximum Contribution Limit	$3,050	$6,150
Catch-up Contribution (55+)	$1,000	$1,000

Below are the contribution limits for 2010.

2010 IRS Limits
	Single Plan	Family Plan
Minimum Deductible	$1,200	$2,400
Maximum Out-of-pocket	$5,950	$11,900
Maximum Contribution Limit	$3,050	$6,150
Catch-up Contribution (55+)	$1,000	$1,000

TO LEARN MORE ABOUT HOW YOU MIGHT BENEFIT FROM AN HSA,
CONTACT JOHN ANDERSON AT CHOICE ONE HEALTH & LIFE:

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