What exactly is a Health Savings Account (HSA)?
• It’s a savings and spending account that offers members a tax-advantaged way to pay for qualified medical expenses as well as a way to save for future medical and retirement health care expenses that won’t be subject to Federal tax. After the age of 65 money can be withdrawn from the account for any purpose with no tax penalty, but if not used for health care, you will pay your regular tax rate.
