HEALTH SAVINGS ACCOUNTS:
SECURITY FOR NOW AND LATER

As more and more employers make the switch to a High-Deductible Health Plan (HDHP), the Health Savings Account (HSA) continues to rise in popularity. It's an account that puts employees in control, allowing them to save on healthcare expenses and build a nest egg for retirement, much like a 401(k).

They offer a triple-tax advantage: Contributions are tax-free, earnings are tax-free and withdrawals for eligible expenses are tax-free. In addition to the extraordinary savings potential, health savings accounts offer investment capabilities to help accountholders truly maximize the account's potential. The best part? The portability of the account means its balance continues to grow year after year and travels with the accountholder, even in the event of a career change.

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ALL ABOUT HEALTH SAVINGS ACCOUNTS

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Employee enrolls in an HDHP and a Health Savings Account

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Employee contributes pre-tax payroll deductions or online contributions

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Employee spends, saves or invests account dollars

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Account balance grows for when it's needed most

The IRS provides inflation-adjusted contribution limits each year.

The most recent HSA contribution limits are:

20182019
Individual Contribution Limit$3,400$3,500
Family Contribution Limit$6,900$7,000
Catch-Up Contribution Limit (age 55+)$1,000$1,000

For employees who already have an account, we make transferring easy.

Transfer an Existing HSA

THE DISCOVERY DIFFERENCE

 

One card, one online account, one app, and one service center for all benefits

 

Low investment threshold and an integrated investment account

 

A portable solution that increases flexibility

 

HSA Advance, which lets participants tap into a ready reserve of funds before they've built a balance

 

Employee education catered to spenders, savers and investors

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