It’s called a “Savings” account for good reason. Think of an HSA like a “medical 401(k).” An HSA is set up as an employee-owned investment or banking account.

Although the HSA was designed to save for future health care needs that aren’t covered by another health plan, unlike the funds in a 401(k) - which can be only withdrawn without penalty after retirement – the money in an HSA can be used at any time by the account holder for qualified medical expenses.

Employees, and employers, may contribute to an HSA, only if the employee is covered by an IRS-qualified High-Deductible Health Plan.

  • take care® HSA works with any High-Deductible Health Plan, such as Flexible BlueSM
  • All of your account activity, such as HSA, vision-and-dental FSA, or dependent care FSA is viewed at one location