Save with a Health Savings Account this Tax Season
Tax season is right around the corner – have you considered an HSA, or Health Savings Account, as a way to save money on medical expenses AND manage your tax bill this year?
An HSA is a special kind of tax-advantaged savings account designed to complement your high-deductible health insurance plan. HSA owners make tax deductible contributions, and are then able to withdraw funds for qualified medical expenses – using pre-tax dollars.
Main benefits of a Harvest Bank HSA:
- Tax-deductible contributions and tax-free withdrawals on qualified expenses
- Convenient access to funds by paper check or debit card
- No “use it or lose it” requirements like many “flex” benefit plans
- Contributions are yours to keep even if you change jobs or retire
- Competitive tiered interest rates
HSA account applicants: must have an HSA-qualified health insurance plan, and cannot be enrolled in Medicare or be claimed as a dependent on someone else’s tax return
Call your Harvest Bank branch today for more information!
FDIC Deposit Insurance Coverage Rev.2014_hvst.bk