Top 5 reasons to use an HSA

There are many benefits to opening and using a health savings account (HSA). Here are the top five reasons we think you should consider it.

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

When you use your HSA, it's like using a 25-35% 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% 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 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 is 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.


The details of how a health savings account (HSA) works and the benefits it can provide can be explained with four simple words: deposit, grow, save and pay.
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Take a Health Savings Checkup and you'll see how much health care could cost you when you retire. You'll also get a plan to help you:

  • Stay healthy
  • Spend less on health care
  • Save more for your future

 Start your five-minute Health Savings Checkup now

Investments are not FDIC-insured, are not guaranteed by Optum Bank and may lose value.