A Health Savings Account (HSA) from 3Rivers is a special account that helps you save and pay for qualified medical expenses. The HSA allows for tax deductions on eligible contributions and tax-exemptions on qualified medical expenses.
Your contributions are tax-deductible, funds grow tax-deferred, and withdrawals for qualified medical expenses are tax-free.
For everything HSA — who's eligible, how much you can contribute, what counts as a qualified expense, and how to report it at tax time — go straight to IRS Publication 969 at IRS.gov/Pub969. That's the one written for HSAs.
| Type of Coverage | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Individual HDHP Coverage | $3,850 | $4,150 | $4,300 | $4,400 |
| Family HDHP Coverage | $7,750 | $8,300 | $8,550 | $8,750 |
| Over 55 Catch-up | $1,000 | $1,000 | $1,000 | $1,000 |
An HSA is a triple tax-advantaged account for people covered by a high-deductible health plan. At 3Rivers, yours is a checking account that earns money market dividend rates. Contributions are tax-deductible, your money grows tax-free, and withdrawals for qualified medical expenses are tax-free.
Yes! Unused funds roll over indefinitely. There's no "use it or lose it" requirement like FSAs. Your money earns dividends and grows tax-free. This makes HSAs ideal for long-term healthcare savings and retirement planning.
You can withdraw from your HSA anytime, but if it's not for a qualified medical expense, that money counts as income and usually comes with an extra 20% tax. That extra tax goes away once you turn 65 or if you become disabled.
That's part of why HSAs are such a good long-term play: after 65, use it for anything and just pay regular income tax — or keep using it for medical costs and pay nothing at all.