WHAT IS AN HSA?
A Health Savings Account (HSA) enables you to set aside pre-tax money to pay for qualified medical expenses today and save for those you may encounter in the future. HSAs are individually owned (by you). Interest earned, investment gains and distributions are tax-exempt when used appropriately.
The SelfcareHSA Difference
- SelfcareHSA puts you in control to decide how to use your tax-advantaged healthcare funds in ways that best meet your needs.
- 100% mobile-enabled. Anything you can do online can be done from your mobile device.
- SelfcareHSA provides you with the ability to completely manage your HSA on your own, at your convenience. Rest assured, when you need assistance, our team is always there for you. Your journey. Your money. Your decision.
- Small minimum cash balance required before investing, providing you the best of both spending and saving.
- Built from the ground up, SelfcareHSA was created with you front of mind to make managing your HSA simple and convenient.
The SelfcareHSA Technology Benefits
- Dashboard view of all your balances including cash, available to invest, and a combined total of cash and invested funds.
- Explore HSA and investment activity in a single comprehensive transaction list.
- Manage debit cards, link accounts and make additional contributions.
- Categorize payments and view spending charts in a single view.
- Control your profile information, including signers, dependents, and beneficiaries electronically.
HSAs Benefit You
- The HSA triple tax advantage helps you make the most of your healthcare dollars.
- HSA contributions, interest, and investment earnings are tax-exempt, and can accumulate and be saved for retirement.
- HSA distributions are tax-exempt for qualified expenses and penalty free at age 65.
- HSAs are similar to 401(k)s; the money is yours regardless of insurance carrier and employer changes; the funds are not subject to “use it or lose it” restrictions and roll from year to year until you decide to pay for eligible expenses or reimburse yourself for out-of-pocket payments.
- HSA consolidation is not only permissible, it is smart. You determine which custodian is best for you.
- HSAs can accumulate and be saved for retirement, as distributions are penalty free at age 65.
- We partnered with the HSA industry investment leader, Devenir, to make investing easy by utilizing the myHSAinvestments platform and tools.
- Accelerate HSA savings potential by investing a portion of your balance in a diverse lineup of mutual funds offered by Devenir.
- Investment capabilities are available by selecting mutual funds from the current list or by utilizing the Guided Portfolio.
SelfcareHSA Balance Requirement
SelfcareHSA has a low minimum cash balance requirement. Funds exceeding $500 are eligible to be invested. Maintaining the $500 cash balance provides you with peace of mind by having immediate access to HSA funds when surprise healthcare expenses arise.
The Best of Both HSA Spending and Saving
SelfcareHSA provides you with the ability to unlock your own perfect balance between having fast access to tax-advantaged funds with maximizing your account growth potential. Feeling prepared for life’s surprises and planning for your future has never been easier.
How Much Can I Contribute To My HSA?
|TAX YEAR||HSA CONTRIBUTION||HSA CONTRIBUTION|