“The best way to
 empower citizens
is to let them save and spend their healthcare dollars as they see fit. In other words, start to empower people to make the right decisions with their healthcare dollars. Give them control of a routine cost so that people see the doctor when they need to, spend their dollars wisely, and still be able to have coverage for major medical bills.”

—President George W. Bush
    January 28, 2004

• Pre-tax money is deposited into an HSA. You can use these funds plus any earnings in your HSA for qualified medical expenses with no penalty or taxes.

• Like an IRA, the HSA belongs to you. But unlike an IRA, your employer can contribute to your HSA up to the annual maximum amounts.

• Any HSA funds not used each year remain in your account.

• You can also withdraw funds for non-medical purposes. Any withdrawals will be taxed as normal income and may be subject to a penalty if withdrawn prior to age 65.

• Money not utilzed accumulates tax-deferred and can be used to supplement your retirement income.