A Health Savings Account (HSA) is a type of bank account where you can set aside money for health and medical expenses in a tax-free way. If you have a qualifying high-deductibe health plan (HDHP), then using an HSA is the smartest way to save and pay for health expenses.
Unlike other accounts, an HSA lets you rollover any used funds to the next year, allowing you to be better prepared for whatever may happen. And like all Liferaft products, your HSA stays with you even if you change jobs or health plans.
Continue to grow your account with unused funds that roll over every year
No fees, minimum opening deposit or minimum balance are required
Keep and use your account, even if you change jobs or health plans.
Fund your HSA with pre-tax or tax-deductible contributions
Earn tax-free interest on your HSA account
Enjoy tax-free withdrawals for qualified medical, dental, vision, and more
You must meet the following requirements to open an HSA:
You can use your HSA to pay for a wide range of eligible health expenses, from insurance deductibles to over-the-counter medicines and supplies.
Health insurance deductibles
Eyeglasses & contacts
Feminine hygiene products