Cut Health Care Costs
As the cost of healthcare continues to rise, managing medical expenses can become increasingly difficult. A high-deductible health insurance plan, along with a Security Federal Bank Health Savings Account (HSA), can help make these expenses less of a burden. An HSA is a convenient account that allows you to save money to pay for qualified medical expenses or save for future expenses on a tax-free basis*. HSAs can be used not only for yourself but for your spouse, dependents or employees.
Requirements for Qualification:
The annual amount you can contribute to an HSA is set by federal regulations. If you are 55 or older, you can make catch-up contributions. The 2015 maximum annual contribution limits:
Stop by any Security Federal Bank branch to open your Health Savings Account today!
* The information provided should not be considered as tax or legal advice. Please consult with your tax advisor and/or legal representative for guidance.
Need more information about HSAs?
Visit the Department of the Treasury website at www.treasury.gov and search for “Health Savings Accounts.”
Insurance, Investment and Trust Products are: Not FDIC Insured, Not Bank Guaranteed, May Lose Value, Not Insured by any Government Agency, Not a Bank Deposit