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Healthcare Coverage is Important

Even with the best insurance, there are out-of-pocket expenses that must be met. A Health Savings Account (HSA) provides the protection you need to help plan for unexpected costs and have control over your own healthcare while saving for the future and meeting deductibles. An HSA is a tax-free, interest-bearing checking account that is set up to complement a High Deductible Health Plan (HDHP) and provide convenient access to savings for qualified medical expenses that the health plan does not cover.

The Bottom Line

  • Savings: Save money for future medical expenses, building your funds from year to year.
  • Flexibility: Use for qualified medical expenses, including over-the-counter and out-of-pocket expenses.
  • Ownership: The HSA is yours, not your employer's, and you can take the accumulated funds with you should you terminate employment.
  • Possible tax savings: The money contributed to the HSA through payroll deduction may not be subject to withholding for federal income tax nor other employment taxes. Many states, including New York, offer a similar state tax incentive.
  • Control: You decide how much to set aside and which expenses are paid


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For more details or eligibility requirements, please call or stop in to any of our offices.