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Health Savings Account Education Center

Take Control of Medical Costs by Investing in What You Know Best

The rising cost of health care (and health insurance) is a concern many Americans are facing today. But it’s also a concern many will face in retirement as well.

Fortunately, a Health Savings Account (HSA) at Equity Trust could provide a tax-advantaged solution to help combat the rising costs of health care – now and in retirement.

Equity Trust is providing education and resources about Health Savings Accounts as part of our mission to empower investors with tax-advantaged accounts to build wealth for their financial future – whether it’s your retirement, health care or child’s education.

If you’re interested in an HSA or other self-directed accounts at Equity Trust, call 855-673-4721 or schedule a consultation to learn more.

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It's your health care. Save and invest your way.

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How Do I Know if I'm Eligible for an HSA?

If you are currently enrolled in a High Deductible Health Plan (HDHP) or plan to enroll in a HDHP for the coming year, you may be eligible.

To be eligible for an HSA, you:

  • Must be covered by a High Deductible Health Plan (HDHP) and it must be a HDHP that’s qualified to have an HSA
  • Must not be covered by any other health insurance plan (this does not apply to specific injury insurance and accident, disability, dental care, vision care, or long-term care)
  • Must not be enrolled in Medicare
  • Cannot be claimed as a dependent on someone else’s tax return
Email Us Your Questions

It's your health care.

Save and invest your way.

Schedule ConsultationOnline Application

Discover the Triple Tax Benefits of a Self-Directed HSA at Equity Trust

Download Your Free HSA Guide to Discover the Triple Tax Benefits of a Health Savings Account

Learn about the HSA

If you are interested in the potential tax benefits of an HSA – and would like the ability to invest in real estate and other alternative assets – schedule a consultation with a Senior Account Executive to learn more about a self-directed HSA at Equity Trust.

Frequently Asked Questions

Q: What is a High Deductible Health Plan?
A: An HDHP has been defined by the IRS as a health plan with a minimum deductible of $1,350 for an individual plan and $2,700 for family coverage for 2019. For 2020, the minimum annual deductible for an individual is $1,400 and $2,700 for family coverage. An HDHP must also have out-of-pocket expenses, like deductibles and co-pays, which don’t exceed $6,750 for individual plans or $13,500 for family coverage annually in 2020. Out-of-pocket expenses can be higher for services that are provided outside the plan network.

Q: Whose responsibility is it to ensure that HSA distributions are actually used to pay qualified medical expenses?
A: It’s the account holder’s sole responsibility. It’s not the obligation of the account custodian.

Q: Can an account holder leave the account to another individual upon death, as with an IRA?
A: Yes. If the spouse is the person inheriting the account, the account can remain classified as an HSA. If the inheriting person is not a spouse, the account will no longer be treated as an HSA and the fair market value of the account becomes taxable to the beneficiary in the year of your death.

Q: What is the contribution deadline for HSAs?
A: As with an IRA, contributions into an HSA may be made until April 15 (or tax filing deadline) for the prior tax year.

For more FAQs, Download Your Free HSA Report:

Learn the HSA

IRS Information

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Equity Trust Company is a directed custodian and does not provide tax, legal or investment advice. Any information communicated by Equity Trust Company is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever making an investment or financial decision, please consult with your tax attorney or financial professional.

Featured Case Study:

Client Gains $18,000 Tax-Free for Health Savings Account on Private Equity Offering

Equity Trust clients, Mark and Alison, are using their HSA in a way many people didn’t know was possible to prepare for the rising costs of medical expenses and save for the health care costs they’ll face in retirement.

I think people are now starting to realize that their HSA is an investment account.

Read their Story