Health Savings Accounts

Highlights

Set up your account during the tax year
Make a contribution by April 15, 2026 for a deduction in 2025
You can make your contribution in one go - or over the year
For individual health plans, you can contribute up to $4,150 for 2025 and $4,300 for 2025.
For family health plans, you can contribute up to $8,300 for 2024 and $8,550 for 2025.
If you're 55 or older, you're allowed an additional catch-up contribution up to $1,000. Any employer contributions will count towards these limits.

A Good Resource: Resource Fidelity Bank

Fidelity has No minimums Simple Set up - Done within Minutes

FAQ's

Member Recommended: Lively HSA

The HSA Investment

HSA is great because it can be invested like a standard retirement account, to grow your savings over time as it has a killer tax advantage.

Review of the basics

Contributions are made tax-free, up to the annual limit and funds can be used tax-free for qualified medical expenses.

For 2026, limits are:

$4,400 for individual participation
$8,750 for parent with dependent(s)
$8,750 family
Catch up - $1,000 for each eligible over age 55

If you have an HSA, you get a triple tax benefit:

You never pay taxes on the contribution into your HSA. It is pre-tax
You get interest earned on the money you contribute tax free
You can pay for qualifying health expenses, tax-free at anytime
You can let your HSA grow while maintaining a collection of HSA eligible receipts to reimburse your self with at any time, tax free.
Examples of HSA eligible items are extremely inclusive.
It is not just Dr, chiropractic, or other provider visits. It includes Motrin, saline solution, durable medical equipment, even vitamins!
Save your qualified receipts as these are eligible for tax free reimbursement at any time

After age 65

You can transfer your HSA into an IRA
You can use the HSA funds to pay for your Medicare premiums
At age 65, you can spend your HSA dollars on anything, not just medical expenses, and you won't incur the 20% penalty. The withdrawal will just count toward your gross annual income.
You can take out funds tax free if it is reimbursement for an earlier expense

Fidelity Tools & Resources

I have no affiliation with Fidelity. I am showing you their tools and resources below for educational purposes and convenience, There are many banks which have an HSA.
Fidelity is a full brokerage account. You can invest in stocks, bonds, mutual funds etc. They may even allow you to use the funds to invest in real estate.

Some Valuable Tools

HSA & 401(k) Maximizer: How does your 401(k) stack up against an HSA? Calculate how much you may want to consider contributing to both and make the most of an HSA on your journey to retirement.

HSA Tax Savings Calculator: Estimate how much you can save with an HSA's triple tax benefits.

How can you spend from your HSA?

Almost all medical expenses that is not covered by an insurance or healthshare, are eligible expenses under your HSA to be paid tax free. Examples below are with Fidelity.

Fidelity Resources

Resource Fidelity Bank
Fidelity has No minimums Simple Set up - Done within Minutes
FAQ's

What qualifies as an HSA ELIGIBLE EXPENSE?

HSA Eligible Expenses

Office visits, labs, diagnostic testing, surgeries, over the counter medications, prescriptions, even vitamins if medially prescribed!
A-Z: Summary: Alcohol treatment, Ambulances, Annual Exams, Artificial limbs, Bandages, Birth control, Body scans, Breast pumps, Cosmetic surgery - reconstructive, Chiropractor, Diagnostic devices, Drug addiction, Fertility treatments, Health Institutes Home Care, Hospital services, Lab fees, Lactation services, osteopathic services, Oxygen, Occupational Therapy, Physical Therapy, Pregnancy tests, Speech Therapy, sterilization, Stop smoking programs, Durable medial equipment, Wheelchairs, Crutches, X-rays
For more information and a complete list of all qualified medical expenses, and more information see I RS Publication 502.

Dental

All Dental Treatments: Fillings, Cleanings, Braces, Implants,artificial teeth etc except teeth whitening
Premiums for dental insurance or memberships

Vision & Hearing

You can include in medical expenses the amount you pay for eye exams, glasses, contact lenses or any surgery to treat defective vision, such as laser eye surgery or radial keratotomy, etc
Hearing aids

Mental Health

Counseling, Psychiatric services, inpatient or outpatient care

More

Direct Primary Care Membership Fees
Disabled dependent care expenses, Long term care premiums, meals, etc. See page 11, Nursing home care, Home Health services,
Lifetime care advanced payment, Long term care insurance or founders, advance payments, Nursing Homes, Nursing services
Special home for Intellectually and Developmentally disabled.
Special telephone equipment and television for hearing disabled, braille books and media
Guide dog for visual, hearing or physical disability -You can include in medical expenses the costs of buying, training, maintaining, food & grooming, & vet care.

Lead based paint removal
Lodging and meals when essential for medical treatment
Trips, Medical conferences, transportation essential to medical care,
Weight loss programs
Special education tuition & tutoring

Medicare Premiums

Medicare Part A, B (via reimbursement) and Medicare Part D are all HSA eligible

Source: Page 8

For more information and a complete list of all qualified medical expenses, and more information see IRS Publication 502.

Health Savings Accounts = Smart Financial Decision

MPB.Health SECURE and PREMIUM HSA are Health Savings Account Compatible

Highlights

The HSA Investment

Review of the basics

Fidelity Tools & Resources

Some Valuable Tools

How can you spend from your HSA?

Example- There are multiple ways you can spend from your HSA

Time of Purchase

Reimburse Yourself

Time of Purchase

Use Bill Pay

Reimburse Yourself

Time of Purchase

Reimburse Yourself

Reimburse Yourself

Reimburse Yourself

What qualifies as an HSA ELIGIBLE EXPENSE?

HSA Eligible Expenses

Dental

Vision & Hearing

Mental Health

Medicare Premiums