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1. You get a discount on your health care expenses.

When you use your HSA, it's like using a 25–35 percent coupon for your health care expenses.* That’s because HSA contributions are tax deductible. For example, let’s say you recently visited your dentist and received a bill for $400. When you pay with your HSA, you are saving between $100 and $140 dollars based on your tax rate.

*Based on a 25–35 percent combined payroll and income tax rate.

2. You get to keep the money in your HSA, no matter what.

When you, your employer or anyone else makes a deposit into your health savings account, it stays there forever. There is no "use it or lose it" rule, even if you move off the high-deductible health plan. It's a great way to save a pocket of money for retirement. Plus, any money you keep in your account will earn interest.

3. You can prepare for unexpected medical expenses.

You don't have to know in advance what kind of medical expenses you'll incur over the year to open or contribute to an HSA. You can put money into your HSA and use it for unexpected medical expenses that happen without warning. You can also pay for qualified medical expenses as they come up and use your HSA to reimburse yourself.

4. You can choose to invest your HSA dollars.

With an HSA, you have the ability to invest your savings in a variety of mutual fund offerings. The best part is, the money that you earn through investing generally is income tax-free. You can use that money for future medical expenses, or even for retirement.

5. You can use your HSA for anyone in your family.

You can use your HSA to pay for the qualified medical expenses of anyone you claim on your taxes, even if you're only enrolled with single coverage. This is a great way to plan for unexpected medical expenses for the whole family