Health Savings Accountadmin2018-02-07T21:50:09+00:00
A unique tax-advantaged account for medical expenses.
How An HSA Works
A Health Savings Account, or HSA, is a unique, tax-advantaged account that can be used to pay for current or future healthcare expenses. When combined with a high-deductible health plan, it offers savings and tax advantages that a traditional health plan cannot duplicate. The MHP offers multiple plans that can be paired with an HSA.
Pick one of our HSA compatible plans
Determine your monthly contribution
Set up an account and contribute tax-deferred dollars
Pay for approved medical expenses via the HSA account
Benefits Of An HSA
Tax-advantaged savings account
Can be used to pay for eligible medical expenses as well as deductibles, co-insurance, prescriptions, vision expenses, and dental care.
Potential to build more savings through investing
Members can choose from a variety of self-directed investment options with no minimum balance required.
Additional retirement savings
After the age of 65, funds can be withdrawn for any purpose without penalty but may be subject to income tax if not used for IRS-qualified medical expenses.
Did You Know?
HSA funds roll over year to year if you don’t spend them. There’s no “use it or lose it” penalty.
In most cases, HSA can potentially earn interest.