“HSAs address a growing need in our health care system. These accounts will help Americans afford health insurance that is growing out of their reach. They will help restrain the health care costs that are affecting us all." -President George W. Bush
Features of an HSA include:
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Your own Health Savings Account (HSA) contributions are tax-deductible.
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Interest earned on your account is tax-free.
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Withdrawals for qualified medical expenses are tax-free.
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Unused funds and interest are carried over, without limit, from year to year.
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You own the HSA and it is yours to keep -- even when you change plans or retire.
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Your HSA is administered by a trustee/custodian.
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