Savings today. Investment for tomorrow.

A health savings account (HSA) combines the immediate benefits of a flexible spending account with the retirement strategy of a 401(k) … and offers more tax advantages than either.

What is an HSA?

Simply put, a health savings account (HSA) is a tax-exempt account established for the purpose of paying or reimbursing qualified medical expenses for an individual, spouse or family. To be eligible to open an HSA, an individual must first be in a HSA-qualified high deductible health plan (HDHP). High Deductible plan is a $1350 or higher, annul deduction per person and $2700 for a family.

An HSA provides triple tax savings. Funds are deposited on a pre-tax or tax-deductible basis, earnings grow tax-free and withdrawals for qualified medical expenses are tax-free.

HSA funds roll over from year-to-year and can be used or saved depending on your financial needs.

In short, an HSA is like a 401(k) or IRA for medical expenses, only better because withdrawals for qualified expenses are tax-free, before retirement age.

Benefits of an HSA

Contributions to your HSA are either pre-tax or tax-deductible
HSA contributions and interest grow tax-free
Withdrawals for qualified medical expenses are tax-free
More Benefits of an HSA

Keep Your Savings
The money in your HSA rolls over year after year (it’s not use-it-or-lose-it like a flexible spending account).

Grow Your Savings
You can invest your HSA funds and let them grow long-term like an IRA or 401(k).

Pay for Your Family
You can use your HSA funds to pay for your spouse or tax dependents’ qualified medical expenses tax-free, even if they’re on different health plans or ineligible for HSAs. Qualified medical expenses include doctor’s visits, prescriptions, dental bills, and more.

Take Funds With You
Because HSAs are individually-owned, they stay with you when you change jobs or retire. And even if you become ineligible to contribute to your HSA, you can continue to pay for qualified medical expenses tax-free from the funds currently in your account.

Open an HSA through your employer or direct with us,

Learn More

Account Fees:

$75 per year plus 0.25% of assets, (1/4 of one percent), added to the mutual fund expense ratio.
Institutional Shares on ESG funds offered. Minimums waived.

We do not accept any revenue sharing from our mutual fund partners. These “record keeping” fees are part of the expense ratio of the mutual fund. Usually, the “A” share or a no-load share has these. We offer Institutional shares, where these fees are removed, usually “I” shares. Our partnership with the mutual funds through Social(k) Retirement allows us to offer Institutional shares here with the usual minimums waived.

Other HSA record keepers offer retail shares and receive revenue from the funds. If an HSA says they charge $0, you need to figure where they make their money. The fees against the assets in the HSA are probably higher than you need to be paying.

We add 0.25% of assets and $75 annually to cover our expenses. We believe transparency on the fees, and overall lower asset fees against your account balance is the way to go.

Example: Calvert Balanced Fund A share expense ratio: 0.94%  Institutional Share: 0.62%

Debit Card:

As with all accounts you can access funds online, mail or fax and via debit card.
Details on credit card use:
To withdraw funds via your debit card, simply visit any ATM. For your security, there’s a $500 daily limit on ATM withdrawals. Funds are deducted from your cash account. Please note that your debit card cannot access your investment account; however, you can move funds between your investment account and cash account online.


Ready to enroll?

A health savings account (HSA) combines the immediate benefits of a flexible spending account with the retirement strategy of a 401(k) … and offers more tax advantages than either.

Apply Now