A Health Savings Account is a tax-advantaged account you use to pay for qualified medical expenses. To contribute, you must be enrolled in a qualifying high-deductible health plan. The money you put in can lower your taxable income, it grows without being taxed, and withdrawals for qualified medical costs are not taxed either. Unused funds roll over year after year and stay yours, even if you change jobs or plans.

An HSA can be a strong fit if you are relatively healthy, want lower monthly premiums, and can handle a higher deductible when care is needed. It is especially popular with the self-employed and small business owners because it combines insurance savings with a flexible medical fund and long-term tax benefits.

It is not the right choice for everyone. If you expect high medical use and would struggle with a large deductible, a lower-deductible plan may serve you better. We help you weigh the monthly savings against your likely costs so the decision fits your budget and your health.