Our Products

Liferaft Health Savings Account

No minimum opening deposit

No minimum balance

No fees

Enjoy tax-free savings for health and medical expenses.

What is a Health Savings Account?

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.


Why should I have an HSA?

No “Use-it-or-lose-it” Policy

Continue to grow your account with unused funds that roll over every year

No Minimum Deposit, Balance or Fees

No fees, minimum opening deposit or minimum balance are required

Your Account Stays With You

Keep and use your account, even if you change jobs or health plans.

Tax-Free Contributions

Fund your HSA with pre-tax or tax-deductible contributions

Tax-Free Earnings

Earn tax-free interest on your HSA account

Tax-Free Withdrawals

Enjoy tax-free withdrawals for qualified medical, dental, vision, and more

Am I eligible for an HSA?

You must meet the following requirements to open an HSA:

  • Currently covered under a qualifying high deductible health plan (HDHP)
  • Not covered by another health plan that is not a a qualifying HDHP (limited exceptions)
  • Not enrolled in Medicare
  • Cannot be claimed as a dependent on another individual’s tax return

What Can I Buy Using the Liferaft HSA Debit Card?

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

Over-the-counter medicine

Doctor’s visits

Prescription drugs

Medical bills


Eyeglasses & contacts

Feminine hygiene products

Dental work

Hearing aids

Insulin shots

Laboratory fees

First-aid kits