It is a personal savings account that is in your name.
Its purpose is to provide an account for you to store funds in order to pay for medical expenses when you incur them Triple tax-advantaged investment account
- Money goes into your HSA tax-free
- Incur interest tax-free
- Use money for medical expenses and pay no tax
Rollover all unused funds for future years – it’s NOT “use it or lose it”
Can be funded by employer or employee at any time during the year
Annual contributions of up to $3,000 for a single and $5,950 for a family for 2009
Earn interest on all balances right away. After $2500, money can be invested in bonds, mutual funds, etc.
No account setup or maintenance fees, through Ken-Ton / Liazon relationship
Please contact Paul Coleman at KeyBank for more information at 875-1631
Click here for printable information: HSA Documents