This is a triple-tax advantage savings account that works in coordination with your High Deductible Health Plan.
- Designed to encourage savings to cover qualified medical expenses
- Owned solely by you and will follow you from employer to employer
- Contributions may be tax deductible, earnings are not taxed, and distributions may be tax-free as long as they are used for qualified medical expenses
Notre Dame FCU offers free onsite enrollment and training sessions for employees at both small and large businesses.
Do you understand your Health Savings Account?
Medical expenses add up quickly—braces, glasses, contacts, co-pays, doctor visits and prescriptions. Then you must consider the healthcare expenses that are unexpected—broken bones, illness, ER visits, and ambulance rides. All of this can add up to be quite overwhelming, putting a financial strain on your budget.
Approximately 19% of Americans are enrolled in a High Deductible Health Plan (HDHP) with a corresponding Health Savings Account (HSA) while there are almost 24.5% of HDHP holders that are NOT utilizing an HSA*. The statistics speak for themselves—there are far too many people with High Deductible Health Plans that do not utilize a Health Savings Account. One reason for utilization being so low, may be that consumers do not understand how the accounts work. Read More >
For more information about Health Savings Accounts, contact us at: