Health Savings Accounts
A Health Savings Account (HSA) is designed for people with High Deductible Health Plans. An HSA is like an IRA or a 401(k) for medical expenses. It’s a complement to traditional health insurance, enabling you to pay for current health expenses and save for future medical expenses on a tax-free basis. If you change jobs or move to another city or state, your HSA can move with you. Unlike a flex plan with its “use it or lose it” rule, your HSA money rolls over from one year to the next. Best of all, you own and control the money in your HSA. All decisions on how to spend and/or invest the money in your account are made by you. Stop by any QNB branch to open your Health Savings Account.
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