Benefits of an HSA When you combine an eligible high-deductible health plan with an HSA, you can: Deposit your health care dollars Anyone can contribute to your HSA — you, your family, your employer or any other individual. Key benefits: Contributions made to your HSA are tax advantaged. Your employer may offer payroll deduction to help you deposit money into your HSA. Or, with an Optum Bank HSA, you can make deposits online anytime. Start by logging into your account. You may pay a lower premium for your health plan because of its higher deductible. You can put some of what you save in your HSA. Grow your savings Your deposits may earn interest and continue to grow over time. Key benefits: Depending on your account, you may be able to invest a portion of your balance in mutual funds to help save for future health care expenses*. The money in your HSA belongs to you, no matter who deposited it, even if you change jobs or switch health plans. Save on taxes Save on every dollar you put away for health care expenses. Key benefits: Your deposits are exempt from federal income tax.** As your savings grows, interest earned is tax-advantaged. The money you spend on qualified medical expenses is income-tax free. Pay for health care now or later HSA funds can be used to pay for current and future qualified medical expenses – there's no "use it or lose it" rule. Key benefits: You can use your HSA to pay for qualified medical expenses for your spouse or dependents, even if they are not covered under your high-deductible health plan. The Optum Bank Health Savings Account Debit MasterCard® is a simple way to pay for health care costs from your account. ** States can choose to follow the federal tax treatment guidelines for health savings accounts (HSAs) or establish their own. Some states have chosen to tax HSA contributions. Talk to your financial advisor or consult your state department of revenue for more information.