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.