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PayFlex Individual Health Savings Account (HSA)

We make it simple to plan, save, and pay for personal well-being. Open an Individual HSA today

START SAVING TODAY
Take control with a PayFlex Individual HSA

With your Individual HSA from PayFlex, you’ll enjoy access to exclusive discounts on eligible health care items and top-ranked mutual fund options, as measured by Morningstar Ratings™. All of this is backed by the highest industry security rating, so you can feel confident as your HSA balance grows.

To open an HSA, you’ll need a high-deductible health plan. You can use the HSA to help pay for your health care expenses today and into retirement. Your contributions, earnings and qualified withdrawals are all tax-free. Plus, this HSA is not employer-sponsored — so you can simply open an account all on your own. 

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Already have a PayFlex HSA with your employer? Head over here instead.

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ADULT CHILDREN & SPOUSES
Opportunity to start saving now or catch up for retirement

You may already have an HSA. But have you thought about this?

  1. If you have adult children (under age 26) who are covered by your high-deductible health plan and not a tax dependent, they may be eligible to open an HSA with us. They could contribute up to the family contribution limit (set by the Internal Revenue Service) to their own HSA.
  2. If you have a spouse (age 55 or older) who is covered by your high-deductible health plan, they may be eligible to open an HSA with us. They could contribute up to $1,000 to their own HSA. Have another HSA? You can roll those funds over to a PayFlex HSA. 

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WHY PAYFLEX?
You get more with a PayFlex HSA

 
 
 

 

footnotePayFlex earned highest security score based on SecurityScorecard Ratings. SecurityScorecard is a global leader in cybersecurity ratings.

ALL ABOUT HSAs
Plan, save, and pay

Key part of your overall savings plan

Put tax-free money into an HSA to help pay for health care expenses today and into retirement. It’s like a 401(k) for health care, but better. It’s yours for life.

See how much you could save

Many ways to save for a healthy future

As your HSA builds, you enjoy tax-free earnings. And once your HSA reaches a certain balance, you can invest in a variety of no transaction fee mutual funds managed by a registered investment adviser. Investing your HSA allows you to grow your money quicker.

View investment options 

Enjoy easy access to your money

You’ll get a PayFlex Card® with your HSA. You can use the card to pay for eligible expenses at qualified merchants. Don’t have the card? No problem. Just pay for those expenses out of pocket. Then pay yourself back with your HSA through the PayFlex Mobile® app or website. You can even request payment directly to a provider. 

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HOW CAN AN HSA HELP?
An HSA is the missing piece for many

If you meet the Internal Revenue Service (IRS) requirements, you can open an HSA. It may just be the missing piece for you. Check out how an HSA can help.

 

You’re covered by a qualified high-deductible health plan. But you need a way to save and pay for the deductible. An HSA can do just that. 

You’re planning to have a child. Prenatal care and hospital expenses can add up quickly. An HSA can help you save and pay for those expenses.

Your child is scheduled to get braces next year. You could start putting money into an HSA now so you’re ready to pay your orthodontia bills. Your deposits are tax-deductible — so you’re saving money too.

You’re hoping to retire early. But you need to build your retirement savings. With an HSA, you have investment options.  

You have an HSA through your employer. Your spouse is age 55 or older. They can open their own HSA and contribute $1,000 to the HSA.

You’re under age 26 and covered by your parent’s high-deductible health plan. But you’re paying for your own health care. If you’re not claimed as a dependent on their tax return, you may be eligible to open your own HSA.  

You’re self-employed with two kids. You chose a high-deductible health plan since it had a low premium. With the kid’s check-ups, your prescriptions, and eyeglasses — you need a way to save and pay for those expenses. An HSA is the missing piece.

EXPERIENCE THE POWER OF AN HSA

Tax benefits and investing in your future


Triple tax savings
With an HSA, your contributions, earnings, and qualified withdrawals are all tax-free. No other account provides that kind of tax savings.

Invest in your future
You can save more each year in an HSA than you can in an Individual Retirement Account (IRA). Opening an HSA now gives you more time to grow your balance and save for your health care.

Think about this — a 65-year-old couple in good health will need $387,6441 to pay for health care costs for the remainder of their lives. Every little bit helps — so why not start today?   

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1Source:  CNBC, July 18, 2019. Retiring this year? How much you’ll need for health-care costs.

 

COMMON ELIGIBLE HEALTH CARE EXPENSES
Tax-free spending on eligible health care expenses

Check out the list of common eligible health care expenses. Use the search bar to find specific items and services. Or you can click on the column headers in the table to see which are eligible, eligible with a Letter of Medical Necessity (LOMN), or not eligible. 

 
 
FIND OUT IF AN EXPENSE IS ELIGIBLE
 

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COMMON QUESTIONS
Learn more about HSAs