Health Savings Accounts

A Health Savings Account, or HSA, provides a way for employees to set aside pre-tax money to pay for medical expenses. Health savings account funds can be used for deductibles, copayments, coinsurance premiums, and any out-of-pocket medical costs.

This is a necessary solution for individuals with high-deductible health insurance plans to help cover their out-of-pocket costs.

Advantages of an HSA include:

    • Employees decide how and when to use the funds
    • Unspent money at end of year will rollover for future expenses
    • Contributions are accepted from the individual, their employer, or a family member or friend
    • Portability to go with you even after changing health insurance plans, switching jobs, or retiring

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Investment and insurance products and services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. 1st Summit Financial Partners is a trade name of 1st Summit Bank. Osaic Institutions and 1st Summit Bank are not affiliated. Products and services made available through Osaic Institutions are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

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