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Wachovia's HealthAdvantageSM Health Savings Account (HSA) is a powerful financial planning tool to help you manage your healthcare expenses.
What Is It?
A Health Savings Account is a tax-advantaged account that can be used to pay for current or future qualified medical expenses. HSAs are offered to qualifying individuals only in conjunction with a high deductible health plan.
How It Works
Similar to a retirement savings plan, you contribute a portion of your paycheck into this account before taxes, subject to certain limits, reducing the amount of federal income tax you pay for the year. Then, you can make tax-free withdrawals to pay for qualified healthcare expenses such as:
Benefits of the Wachovia HSA
Start Saving Today for Future Healthcare Expenses
Open a Wachovia HSA today. Along with your 401(k) plan and other savings, it's another way to help meet your long-term financial planning goals.
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* Distributions for non-qualifying medical expenses prior to age 65 or the time you become eligible for Medicare will be subject to ordinary income tax, as well as an additional 10% penalty.
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(877) 717-0100
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Related Links
•HSA Login
•HSA Transfer/Rollover form
•HSA Deposit Ticket
•Information for Employers
Personal Finance