HSA - HEALTH SAVINGS ACCOUNT 

Build Tax-Free Savings to Pay For Medical Expenses...

What is a HSA?

A Health Savings Account (HSA) is a versatile savings account that works in conjunction with a High Deductible Health Plan (HDHP). HSA's are tax-free, personal investment accounts you can use to pay for qualified medical expenses. 

The best part of an HSA is that you, as the account holder, has complete control over it.

• You can make an unlimited number of deposits, or contributions - so you can deposit one large sum or make smaller monthly deposits that fit within your budge.
• You don't have to spend all of the money in your HSA each year. If you deposit more than you spend, it stays in your account until you need it.
• You have the freedom to use HSA funds for qualified out-of-pocket expenses at the health provider of your choice. 
• Your HSA with Morrill & Janes Bank comes with a Visa^® Health Savings Check Card for your convenience in paying doctor fees, prescriptions, or other medical expense purchases.
  

Visit www.irs.gov for a complete listing of qualified medical expenses. Funds used from an HSA for non-qualified expenses are subject to federal taxes.

Who Qualifies For an HSA?

For 2009*:  Your High Deductible Health Plan minimum deductible must be at least $1,150 for self-only coverage or $2,300 for family coverage. The annual out-of-pocket, including deductibles and co-pays, cannot exceed $5,800 self-coverage or $11,600 family coverage.   

For more information on Health Savings Accounts and how you can benefit, please see a Morrill & Janes Bank representative at any of our Branches, visit: www.treas.gov/offices/public-affairs/hsa/, or view the HSA Demo to learn more.