What is a Health Savings Account?
A Health Savings Account (HSA) is a tax-advantaged* savings plan
that is owned by an individual. Contributions are made to an HSA
through a Cafeteria Plan, which is the menu of employee benefits
provided by an employer. Contributions are made by the individual
on a pre-tax basis, and may be used to pay for current and future
medical expenses. There are no restrictions on who may contribute
to your HSA. Therefore, the individual, the employer, or any other
person can make an HSA contribution on individual's behalf.
Why use an
HSA Q&As for Employers
HSA Q&As for Employees
Apply Now or Learn More about Sandy Spring Bank's Health Savings
- Please call: 800-399-5919, press 2, 5.
- View Sandy Spring Bank's HSA Rates
*All references to tax savings are at a federal level. State
taxes vary. Please consult your tax advisor.