Why Choose an HSA?
Rising health costs in recent years requires individuals and families to become better consumers of services they receive from their doctors and hospitals. Recent legislation supports the Health Savings Account (HSA), an investment vehicle, when partnered with a high deductible health plan, to assist in budgeting and leveraging health care dollars. Dollars withdrawn from your HSA are tax deductible when used for allowable medical expenses, allowing you to build value in your savings account and providing you with options for managing your health costs.
USHEALTH Group's HSA, administered by First HSA, offers competitive interest rates on HSA's. The high-deductible HSA plan option can help you:
- Reduce your health insurance costs - a high deductible plan means lower premium costs
- Create tax savings
- Better understand the true cost of health care
What's an HSA?
Health Savings Accounts (HSAs) are federally-approved savings accounts offered in conjunction with high-deductible health plans. Money is placed in an account and can be used to fund qualified medical expenses even in retirement.
Who's eligible for an HSA?
An "eligible individual" is anyone who:
- Is covered by a high-deductible health plan
- Is not covered by Medicare
- Is not claimed as a dependent on another person's tax return
Allowable Medical Costs
Visit the IRS to view a comprehensive list of allowable costs.
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The Savings Account
Visit our partner FirstHSA, the premier company in providing quality service for your health savings account.
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