Don't lose momentum with your HSA!
To continue making contributions to your HSA and benefit from the triple-tax
advantage your account offers, you must re-enroll in a qualifying high-deductible
health plan (HDHP) during your company's open enrollment period. As a reminder, with your HSA you enjoy:
- Tax-free contributions
- Tax-free withdrawals to cover eligible healthcare expenses
- Tax-free earnings on your account
- Tax-advantaged savings for future healthcare needs
- No use-it-or-lose-it penalty so you can continue to grow your account
If during open enrollment you elect a health plan that does not qualify for an HSA,
you can continue to spend your existing HSA dollars on eligible healthcare
expenses as well as invest the funds in your account. However, you will no longer
be able to make contributions to your HSA.
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