How to Open an HSA

Learn how to open a health savings account. See what the benefits of opening one are and check the eligibility requirements.


With an HSA, you can save for today and tomorrow

HSA benefits aren't only measured in financial gain, but also in the unique ability to create flexibility in a stringent healthcare market. Here are the main benefits for you:


Save more for your health

Contributions to an HSA are tax deductible. Paying with these funds means you'll pay less for health expenses.


Health safety net

Rollover your HSA funds from year to year. Unlike an FSA, there's no "use it or lose it" policy.


The 401(k) of healthcare

After age 65, use your HSA money for non-health related expenses and just pay income taxes on your withdrawals. No penalty!

Are you eligible for an HSA?

  • You’re covered under an HSA-qualified HDHP

  • You aren’t enrolled in Medicare

  • You don’t have or aren’t eligible to use an FSA

  • You aren’t claimed as a dependent on someone else’s tax return

2024 Contribution Limits

  • Individuals - $4,150

  • Families - $8,300

  • Age 55+ catch-up - $1,000

HSA Taxing Savings Stat

Three magic words: Triple tax benefits

  • Tax-free contributions

  • Tax-free interest & investment earnings

  • Tax-free distributions for qualified medical expenses