Health Savings Account
Paying for health care is one of the most essential costs encountered in life. Proactively saving money to use for medical expenses—both expected and unexpected—is smart planning. If you have a high-deductible health plan (HDHP), you may want to consider opening a Health Savings Account (HSA).
Whether you’re an employer or an individual, learn how to set up an HSA account with Fifth Third by visiting 53HSA.com.
What is an HSA?
An HSA is a pre-tax savings account that can be used to pay for a variety of medical costs, including qualified deductibles and copayments. Often, money from HSA funds can be used in conjunction with eligible high-deductible insurance plans.
Additional Resources
Get the Most from Your HSA
Every dollar you contribute to an HSA and spend on eligible health and medical expenses is pre-tax, meaning you can essentially pay your medical bills with pre-tax money. Those are significant savings, no matter what tax bracket you're in.
Set Up Early for Retirement Success
It’s never too early to begin setting yourself up for retirement—and getting started is easier than you think. Here are three different types of retirement savings vehicles that you can set up now and watch them grow into the future.
The HSA Another Retirement Savings Tool
Health savings accounts (HSA) are a versatile savings vehicle, including being able to be used for additional retirement savings.