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Exante Bank - Health Savings Accounts (HSA)

As health care costs continue to rise, many employers and consumers are learning about a smart way to save for these expenses. A Heath Savings Account (HSA) is a tax advantaged account that can be funded by an employer, the employee, or another qualified party. Contributions to account are tax deductible, and the HSA may accrue interest on a tax-deferred basis. Also, account withdrawals to pay for qualified health expenses are tax-free, providing participants with significant tax savings. An HSA may be portable between employers, and the account funds may be used for non-health-related expenses on a taxable basis.

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