Health Savings Account

A Health Savings Account (HSA) is used for qualified healthcare expenses. To be eligible, you must be enrolled in a High-Deductible Health Plan (HDHP). Health Savings Accounts also have some important tax advantages.

A Health Savings Account (HSA) is used for qualified healthcare expenses. To be eligible, you must be enrolled in a High-Deductible Health Plan (HDHP). Health Savings Accounts also have some important tax advantages.

Health Savings Account (HSA)

A Health Savings Account (HSA) is used for qualified healthcare expenses. To be eligible, you must be enrolled in a High-Deductible Health Plan (HDHP). Health Savings Accounts also have some important tax advantages.

Qualified Benefits

Eligible expenses include a wide range of medical, dental and mental health services. They are explained in detail in IRS Publication 502, Medical and Dental Expenses.

Flexible Contributions

Contributions can come from you, your employer, a relative or anyone else who wants to add to your HSA. The Internal Revenue Service does, however, set limits. For 2019, for example, the limit is $3,500 for individuals and $7,000 for families, plus an additional $1,000 “catch-up” contribution for anyone age 55 or older by the end of the tax year.

Investing

One of the key features of the HSA Account is the ability to invest in over 80 different mutual funds. No investment transaction fees, no minimum balance requirements, plus maximum flexibility with access to funds from Vanguard®, American Funds, Dimensional, MFS®, Oppenheimer, Franklin Templeton, T. Rowe Price and more.

Pre-Tax Contributions

Contributions are typically made with pre-tax dollars, through payroll deductions at your employer. As a result, they are not included in your gross income and are not subject to federal income taxes. In most states, contributions are not subject to state income taxes.

Tax-Deductible After-Tax Contributions

If you make contributions with after-tax dollars, you can deduct them from your gross income on your tax return, reducing your tax bill for the year.

Tax-Free Withdrawals

Withdrawals from your HSA are not subject to federal (or in most cases, state) taxes if you use them for qualified medical expenses.

Tax-Free Earnings

Any interest or other earnings on the money in the account is tax free.

Annual Rollover

If you have money left in your HSA at the end of the year, it rolls over to the next year.

Portability

The money in your HSA remains available for future qualified medical expenses even if you change health insurance plans, go to work for a different employer, or retire.

Convenience

Your HSA debit card makes it easy to pay for prescription medications and other eligible expenses right away. If you wait for a bill to come in the mail, you can call the billing center and make a payment over the phone using your debit card.

Next Steps

If you know which account is right for you, open an account and complete the application. If you prefer to speak to us first, please schedule some time to discuss your investment goals and objectives.

Health Savings Account (HSA)

A Health Savings Account (HSA) is used for qualified healthcare expenses. To be eligible, you must be enrolled in a High-Deductible Health Plan (HDHP). Health Savings Accounts also have some important tax advantages.

Qualified Benefits

Eligible expenses include a wide range of medical, dental and mental health services. They are explained in detail in IRS Publication 502, Medical and Dental Expenses.

Flexible Contributions

Contributions can come from you, your employer, a relative or anyone else who wants to add to your HSA. The Internal Revenue Service does, however, set limits. For 2019, for example, the limit is $3,500 for individuals and $7,000 for families, plus an additional $1,000 “catch-up” contribution for anyone age 55 or older by the end of the tax year.

Investing

One of the key features of the HSA Account is the ability to invest in over 80 different mutual funds. No investment transaction fees, no minimum balance requirements, plus maximum flexibility with access to funds from Vanguard®, American Funds, Dimensional, MFS®, Oppenheimer, Franklin Templeton, T. Rowe Price and more.

Pre-Tax Contributions

Contributions are typically made with pre-tax dollars, through payroll deductions at your employer. As a result, they are not included in your gross income and are not subject to federal income taxes. In most states, contributions are not subject to state income taxes.

Tax-Deductible After-Tax Contributions

If you make contributions with after-tax dollars, you can deduct them from your gross income on your tax return, reducing your tax bill for the year.

Tax-Free Withdrawals

Withdrawals from your HSA are not subject to federal (or in most cases, state) taxes if you use them for qualified medical expenses.

Tax-Free Earnings

Any interest or other earnings on the money in the account is tax free.

Annual Rollover

If you have money left in your HSA at the end of the year, it rolls over to the next year.

Portability

The money in your HSA remains available for future qualified medical expenses even if you change health insurance plans, go to work for a different employer, or retire.

Convenience

Your HSA debit card makes it easy to pay for prescription medications and other eligible expenses right away. If you wait for a bill to come in the mail, you can call the billing center and make a payment over the phone using your debit card.

Next Steps

If you know which account is right for you, open an account and complete the application. If you prefer to speak to us first, please schedule some time to discuss your investment goals and objectives.
Overview

Health Savings Account (HSA)

A Health Savings Account (HSA) is used for qualified healthcare expenses. To be eligible, you must be enrolled in a High-Deductible Health Plan (HDHP). Health Savings Accounts also have some important tax advantages.

Qualified Benefits

Eligible expenses include a wide range of medical, dental and mental health services. They are explained in detail in IRS Publication 502, Medical and Dental Expenses.

Flexible Contributions

Contributions can come from you, your employer, a relative or anyone else who wants to add to your HSA. The Internal Revenue Service does, however, set limits. For 2019, for example, the limit is $3,500 for individuals and $7,000 for families, plus an additional $1,000 “catch-up” contribution for anyone age 55 or older by the end of the tax year.
Investing

Investing

One of the key features of the HSA Account is the ability to invest in over 80 different mutual funds. No investment transaction fees, no minimum balance requirements, plus maximum flexibility with access to funds from Vanguard®, American Funds, Dimensional, MFS®, Oppenheimer, Franklin Templeton, T. Rowe Price and more.
Tax Advantages

Pre-Tax Contributions

Contributions are typically made with pre-tax dollars, through payroll deductions at your employer. As a result, they are not included in your gross income and are not subject to federal income taxes. In most states, contributions are not subject to state income taxes.

Tax-Deductible After-Tax Contributions

If you make contributions with after-tax dollars, you can deduct them from your gross income on your tax return, reducing your tax bill for the year.

Tax-Free Withdrawals

Withdrawals from your HSA are not subject to federal (or in most cases, state) taxes if you use them for qualified medical expenses.

Tax-Free Earnings

Any interest or other earnings on the money in the account is tax free.
Other Benefits

Annual Rollover

If you have money left in your HSA at the end of the year, it rolls over to the next year.

Portability

The money in your HSA remains available for future qualified medical expenses even if you change health insurance plans, go to work for a different employer, or retire.

Convenience

Your HSA debit card makes it easy to pay for prescription medications and other eligible expenses right away. If you wait for a bill to come in the mail, you can call the billing center and make a payment over the phone using your debit card.
Next Steps

Next Steps

If you know which account is right for you, open an account and complete the application. If you prefer to speak to us first, please schedule some time to discuss your investment goals and objectives.
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