HSA Tax Advantages

State taxes may vary. Consult your tax advisor.

How does a ConsumerDirect HSA work?

You can use your HSA tax-free for qualified expenses

You can use the money in your HSA to pay for any current or future IRS-qualified medical expenses before you reach the deductible in your HDHP. You can pay for qualified expenses with your HSA debit card or out-of-pocket without using the money in your tax-advantaged HSA. Your HSA may also be an important way for you to put aside some money for expenses incurred during retirement. For a partial list of qualified medical expenses, go to www.irs.gov and download IRS Publication 502. Our HSA is administered by First HSA.

A ConsumerDirect HDHP may have lower premiums

The EmblemHealth ConsumerDirect HSA solution is designed to provide lower health care premiums. ConsumerDirect plans typically exchange a higher deductible for lower premiums than many traditional health plans. You are responsible for paying most day-to-day medical expenses before the deductible is reached. Your tax-advantaged HSA makes it easier for you to save for expenses incurred before the deductible.

Fund your HSA up to the annual IRS limits

Your employer may allow you to fund your HSA through pre-tax payroll contributions. Making contributions is important to help pay for qualified medical expenses. HSAs have annual contribution limits set by the IRS each year. HSA money can be used tax-free for any IRS-qualified medical expenses. State taxes may vary.

Maximize the preventive care benefits

Your ConsumerDirect HSA covers preventive care before the health deductible is reached. Taking advantage of the preventive care benefits and wellness programs are important to maximizing the value of your ConsumerDirect Plan.