HSA benefits
There are many benefits of an HSA:
More informed healthcare decisions
You have the flexibility to shop around for healthcare services and products.
Use on almost anything
Your HSA dollars can be used for doctor visits, prescriptions, dental, vision, emotional health services and hundreds of other IRS-qualified expenses.
You own the account for life
Your HSA funds stay with you when you change jobs or retire, and unused funds roll over from year to year.
Three tax advantages
Tax-free contributions (through payroll deduction for employer-sponsored plans), tax-free interest and earnings growth* and tax-free spending on eligible items.
Beyond healthcare
After age 65, your HSA funds can be used for any purpose without penalty (only income tax is assessed).
What makes HSA Bank unique compared to others?
No initial contribution is needed to open an account and no monthly fees. View our fee and interest rate schedule.
Investing is made smarter with multiple low-cost, self-directed options that can potentially grow your savings for healthcare or retirement.**
We offer calculators, tools and ideas for real healthcare savings.
Live customer support 24/7, an easy online portal and mobile app.
Confidence knowing your money is held by the same trusted bank that administers your HSA.
Are you HSA eligible?
If you have an HSA-qualified health plan, whether through your employer, your spouse or one you've purchased on your own from a healthcare marketplace, chances are you can open an HSA. Check that the following are also true:
- You must have a valid email address, Social Security number and a primary residence in the United States.
- You must be covered by the HSA-qualified health plan on the first day of the month.
- You can’t be covered by any other non-HSA-compatible health plan, including Medicare Parts A and B.
- You can’t be covered by TRICARE.
- You can’t have accessed your Veterans Administration medical benefits in the past 90 days to contribute to an HSA.
- You can’t be claimed as a dependent on another person's tax return.
Bronze and Catastrophic plans now HSA eligible
Legislation affecting HSAs recently passed, which means Bronze and Catastrophic healthcare plans are now HSA eligible. Learn more about the changes that may impact you.
How to open your HSA
If you're eligible, it's easy to open an HSA. It takes less than 10 minutes to sign up. You must have a valid email address to open an account.
If your employer offers an HSA with your benefits, contact your Human Resources department to learn how you can open your account during benefit elections.
Additional resources
Frequently Asked Questions
Get answers to the most-asked questions about HSAs, FSAs, HRAs and more.
Read FAQs
HSA investment options
Invest HSA funds to help grow your account to save for future healthcare expenses or retirement.
Learn more
HSA Tax Time 101
HSA Tax Time 101 is a resource that provides answers to some of the most frequently asked Health Savings Account (HSA) tax questions.
Learn more
*HSA contributions and earnings aren’t subject to federal taxes and aren’t subject to state taxes in most states. Contact a tax professional for information about your state.
**SECURITIES AND INVESTMENTS
| Not Insured by FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | May Lose Value |
|---|
Past performance is not indicative of future results.
The HSA Invest program is administered by DriveWealth, LLC, a registered broker-dealer and member FINRA/SIPC. Securities products and services are offered through LeafHouse Financial Advisors, LLC, an SEC-registered investment advisor. Registration does not imply a certain level of skill or training. Additional information about LeafHouse Financial Advisors, LLC, including investment strategies, fees and objectives, can be found in its Form ADV Part 2 and Form CRS, which are available in your online account.
HSA Bank is not registered as a broker-dealer or investment advisor. Neither HSA Bank nor DriveWealth, LLC provide investment advice to HSA Invest program investors. HSA Bank, DriveWealth, LLC and LeafHouse Financial Advisors, LLC are not affiliated and not responsible for the products and services offered or provided by the other.
