Add flexibility and control over your health care expenses with a Beacon HSA Checking Account.
Advantages of a Health Savings Account
Security. Your High Deductible Health Plan (HDHP) and a Beacon Health Savings Account (HSA) are protection against high or unexpected medical bills.
Affordability. Your health insurance premiums should be lower with an HDHP and by using an HSA you can take advantage of triple tax savings.
- Tax deductions when the contribution is made.
- Tax-free earnings while the funds are in the HSA.
- Tax-free withdrawals for qualified medical expenses.
Flexibility. Funds can be used to pay for current medical expenses (including those expenses that an insurance provider may not cover) or for future needs and emergencies:
- Health insurance or medical expenses if unemployed
- Medical expenses after retirement (before Medicare)
- Out-of-pocket expenses when covered by Medicare
- Long-term care expenses and insurance
Control. You decide:
- How much money to put into the account.
- Whether to reserve funds for the future or pay medical expenses immediately.
- Which medical expenses to pay from the account.
- Where you will open your HSA.
Versatile. You can maintain your HSA and draw on it even if you change jobs, switch your medical coverage, become unemployed, or if you relocate.
