The Basics of a Health Savings Account An HSA is a health savings account that allows you to set aside pre-tax dollars every month for qualified health care expenses like doctor's visits, eye and dental exams, and prescription medications. Combined with an HSA compatible plan, it's an easy and affordable option for health care expenses. Once the account is open, use your HSA debit card or online bill pay to take care of your health care expenses. The account stays with you and the balance rolls over from year-to-year. So don't worry, if you don't use it, you won't lose it. Even if you decide to move off the high deductible plan in the future. There are many benefits to opening an HSA. They're flexible and offer great tax benefits, you get to choose when to make contributions, how much and how to invest in them. Your deposits are tax deductible, grow tax-deferred, and spending is tax-free. Plus, employer contributions are excluded from your gross income. After you enroll in a qualified high deductible health plan with an HSA option, check to see if your employer offers pre-tax contributions into your account on pay day, or you can make contributions on your own and claim the deduction at tax time. With your HSA you'll save on taxes and in time grow your savings to offset medical, dental, vision, and prescription costs that come your way. To learn more stop by any Central Bank location today. Open Your Health Savings Account × Equal Housing Lender. Member FDIC.