An HSA is a tax-advantaged savings account. It is owned by the individual and contributions to the account are used to pay for current and future medical expenses. HSAs are used in conjunction with a "High Deductible Health Plan" (HDHP)—and FHCW offers you two HSA-compatible plans. The money deposited, as well as the earnings on the account, are tax-deferred. The funds can be withdrawn to cover qualified medical expenses, and unused balances roll forward from year to year. HSAs provide the following:

· HSAs can be funded by the employer, employee or a combination of both within the same calendar year.

· HSA accounts are your property and you can use them to pay for qualified medical expenses no matter where you work, as long as you have an HDHP insurance plan.

If you purchase a FHCW HSA-compatible plan you are not required to establish an HSA, though we encourage you to do so.