Health Savings (HSA)
Health Savings Account (HSA) from 3Rivers is a special account that helps you save and pay for qualified medical expenses. The HSA allows for tax deductions on eligible contributions and tax-exemptions on qualified medical expenses.
One of the most appealing attributes of an HSA is that they offer a triple tax benefit. Since the money is tax deductible when you deposit it, it grows, tax-deferred. Then, you can take it out tax-free when it’s used for qualified medical expenses. So, it defers your taxes after you deposit it, grows without taxation, and is not taxed when used appropriately. A triple benefit!
At 3Rivers, our HSAs come in the form of a checking account. We also have alternative investment options for longer-term savings for these accounts.
If you’re an employer in need of a solution to pair with your high deductible health plan to make it more appealing to your employees, an HSA might be right for you. Click here for more information.
Open an HSA Account Schedule an Appointment IRS Website HSA Packet