A Health Savings Account (HSA) is a tax-advantaged savings vehicle you can use to set aside pre-tax payroll dollars for future healthcare expenses that roll over from year to year. The rules are similar to those that apply to individual retirement accounts. Funds in the HSA can grow tax-free and be used tax-free for qualified healthcare expenses. Using the funds for non-qualified expenses can result in IRS penalties. Eligible expenses are typically those allowed under a Flexible Spending Account (see FSA Qualified Expenses HERE).

There are specific tax laws that apply to HSAs. Here are the most common that you should be aware of:
	You must participate in a Qualified High Deductible Health Plan (HDHP) in order to contribute to an HSA in the current tax year. Remember: you do not need to be in an HDHP in order to use HSA funds that you contributed in past years.
	You cannot use your Flexible Spending Account (FSA) for medical, prescription or over-the-counter expenses under the Deductible if you are making contributions to your HSA. You can still use an FSA for dental and vision.
	Federal HSA Limits & Maximums For Plan Years Beginning:   2007 2008 2009 Minimum Deductibles   Single Family $1,100 $2,200 $1,100 $2,200 $1,150 $2,300 HSA Contribution Maximums   Single Family   $2,850 $5,650   $2,900 $5,800   $3,000 $5,950 Age 55+ Catch Up Contributions         $800   $900   $1,000
To learn more about Health Savings Accounts
	Download Fifth Third information for CDB HSA Participants (PDF) HERE.
	Fifth Third HSA information HERE.
	Visit the US Treasury Department’s HSA Information page HERE.