Did you know when you make pretax contributions to your HSA, you can use these funds to pay for qualified medical expenses incurred once your account is opened and in the future.
Did you know when you make pretax contributions to your HSA, you can use these funds to pay for qualified medical expenses incurred once your account is opened and in the future.
HSAs offer triple tax saving through your payroll contributions, any interest and earning as well as the money is withdrawn. Each of these savings is not taxed if it's used for qualified medical expenses. (For a complete list of qualified medical expenses, visit here. Your HSA balance grows in three ways:
Visit Optum www.optumbank for details.
There are several features that make the HSA a unique tool for saving on healthcare costs:
Yes – you are responsible for using your HSA funds only for qualified medical expenses. You should keep any and all documentation, including payment receipts, to substantiate your purchases and avoid possible tax consequences.
For a complete list of qualified medical expenses, visit here.