The HSA Advantage Administered by CIGNA/HSA Bank
Health Savings Account (HSA) An HSA is a savings account that is used in combination with a high-deductible health plan (HDHP) that lets you set aside pre- tax funds to cover qualified medical expenses, now or in the future. Plus, the account is yours to keep even if you change jobs, retire, or change your health insurance plan. You must be enrolled in a HDHP to contribute to an HSA.
Your HSA features important triple tax advantages
HSA contributions are tax-free
Not applicable in California or New Jersey
Eligible Expenses: •
2024 IRS Limits Single Plan
Health plan deductibles and co-insurance
Family Plan
Dental care Vision care
• • • • •
Maximum Contribution Limit Catch-up Contributions (age 55+)
$4,150
$8,300
Prescription medications
Over-the counter medications Certain medical equipment
$1,000
$1,000
For more information on IRS-qualified medical expenses, visit https://www.hsabank.com/hsabank/learning- center/irs-qualified-medical-expenses
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