It’s never too late to prepare for healthcare costs. With the annual rise in healthcare costs, it’s better to be prepared with a Health Savings Account from Aroostook Savings & Loan.
A Health Savings Account (HSA) from Aroostook Savings & Loan works in conjunction with your high deductible health plan. You can use your HSA funds to pay for medical, dental, vision, prescription and deductible amounts. Even better, HSA contributions can provide you with a triple tax advantage. Contributions can be made pre-tax decreasing your overall taxable income. Your HSA funds will earn money tax free through investments or interest payments. Lastly, you pay for your qualified health care expenses tax free from the money in your Health Savings Account including using your funds to pay your deductible. The benefits of an HSA account don’t stop there, unused funds are rolled from year to year, unlike other healthcare accounts that are a “use it or lose it” plan. It’s your choice. Spend your HSA now or save your funds for later. Either way you get the tax benefits of an HSA and because it’s your account, the HSA funds are always yours regardless of your job status or employer.
Aroostook Savings & Loan provides simple solutions to establishing and maintaining your Health Savings Account. Whether you want to start your Health Savings Account or transfer your existing account, you are at the right place. Let us help you grow your HSA funds tax free for your healthcare expenses now or later in life. Come visit us today!