February 2005
Take charge of your own health costs! If you have a high-deductible insurance plan, you can establish a new Health Savings Account (HSA), where qualified contributions are tax-deductible and withdrawals may be tax-free.
WHAT IS AN HSA?
It is a tax-sheltered savings account similar to an IRA that is established exclusively for the payment of medical expenses.
- Anyone who has a high-deductible insurance plan can benefit from using an HSA. Deposits in the account can be used toward paying qualified medical expenses including your deductible.
- Employers can offer HSA's to employees as part of a cafeteria plan.
- HSA contributions, by employee or employer, are tax-deductible.
- Any money left over at the end of the year can be used the following year! Money not spent stays in the account and gains interest.
Centier is the area leader offering this type of account to help manage your healthcare expenses. Contact a member of our Wealth Management Department for more details - 756-BANK or 1-888-CENTIER.
35 Locations to Serve You and Your Employees
www.centier.comMEMBER FDIC |
|
|
