Use pre-tax dollars to pay for current and future medical expenses. An HSA combines a high-deductible insurance plan with a tax-exempt savings account.
A Jefferson Bank HSA offers a triple tax advantage – deposits are tax deductible, growth is tax-deferred and spending is tax-free if used for qualified health care expenses. You must be enrolled in a qualified high deductible health plan to enroll. Once enrolled, you own your HSA even if you change jobs or retire. Plus, the balances roll over from year to year.
HSAs work just like a normal checking account. You can use a debit card or online bill pay for medical expenses. You put money into the account just like depositing money into a checking account. You can also view your transactions online and in a monthly statement.