A health savings account (HSA) is a tax-advantaged medical savings account available to people enrolled in a high-deductible health plan (HDHP). The tax benefits of an HSA make it an attractive way to save for current and future medical expenses.

Benefits of an HSA

  • Contributions are tax deductible
  • Earnings grow tax-free
  • Distributions are tax-free if used for qualified medical expenses
  • Unused balances roll over year to year
  • Balances can be invested
  • Annual contribution limits apply

To learn more about HSAs, please call our Director of Financial Planning, Jonathan Stano, CFP®, at 864-552-4779 or submit a contact form.