Invest in Your Health with a Health Savings Account
Maintaining your physical and your financial health are critical elements for a happier, more secure life. Both take forethought and planning. Our Health Savings Account (HSA) is designed to help you save for qualified medical expenses, so you can feel prepared and confident in managing your health plan premiums and other qualified health costs.
In addition to a tiered interest rate, a Union Savings Bank HSA also provides significant tax benefits:
- HSA contributions – by employer or employee – are excluded from income
- HSA earnings can accumulate tax free
- If used for qualified medical expenses, HSA assets are never taxed
- Upon death, HSA assets become the property of a named beneficiary, or of the HSA account beneficiary’s estate