Learn More About Health Savings Accounts (HSAs)

About Health Savings Accounts (HSAs)

A Health Savings Account (HSA) is a tax-exempt "trust" or "custodial account" that you set up with a qualified HSA trustee or custodian (this could be a bank, an insurance company, or other entity authorized by the IRS). An HSA, when used in conjunction with a high-deductible health plan, offers a high level of flexibility. You can use the money in your account to cover today's qualified healthcare expenses or you can accumulate funds from year to year -- tax-free.

The money in your HSA belongs to you -- even if you change employers. Unlike traditional tax-advantaged accounts, HSAs can be funded by you, family members or any other individual. You can contribute as frequently, or as much, as you wish, provided your total contribution does not exceed the limits specified by the Internal Revenue Service (IRS). HSA contribution limits are tax-deductible up to the lesser of either your qualified annual deductible or the statutory maximum amount for single or family coverage, as stated by the IRS.

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About Your HSA Custodian
Your HSA custodian is Exante Bank, an FDIC-insured financial institution. Exante Bank will be the holder of your HSA funds and will service your account. You will receive communications directly from Exante Bank regarding your HSA account. To view the details of your HSA account and transactions, visit the Exante bank website.