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Blog > 2010 > April > Reasons To Have A Medical Savings Accoun...
April 22, 2010

Reasons To Have A Medical Savings Account

by admin

What are reasons to have a medical savings account?

  • It provides tax benefits and retirement options.
  • You can use the funds deposited in the plan for alternative and preventive care.
  • The money deposited is totally yours.
  • Current and future medical expenses are covered by tax free savings.
  • Low insurance premiums.
  • The health savings account is yours, even if you change jobs.
  • Dental, eye, prescription drugs and over the counter medicine expenses are covered by the medical savings account.
  • You are in total control of your money and decisions regarding using it are completely yours.
  • You can decide on what type of investments you can make with the money in order to make it grow.
  • The contribution limit varies with each year and is different for individuals and families.
  • You can save the money in your account till the age of 65 after which the money will be taxed as per the normal income tax rules.

If you're interested in learning about HSA Indianapolis, please don't hesitate to get in touch with our Financial Center of Indianapolis.  

Category: FCFCU
Your savings federaly insured to at least $250,000 and backed by the full faith and credit of the United States Government: NCUA, Equal Housing Lender, ESI