Medica Direct HSA

Medica Direct with HSA
Health Savings Account

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Like IRAs and 401(k)s, an HSA is a tax-sheltered trust account that can earn interest or be invested. It encourages employees to build tax-sheltered savings for the future health care needs. Employee HSA contributions also help lower his/her payroll taxes.

Wells Fargo Health Benefit Services manages savings and investment trust accounts for Medica Direct HSA members.

HSA account funds belong to the employee and can move with them if they change employers. When the employee turns age 65, savings built up in the account can be withdrawn penalty-free for any purpose.

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Money can be withdrawn tax-free to pay for many types of medical, dental, vision and other health-related services and products. Eligible expenses include many not covered by traditional insurance; for example, laser eye surgery, alternative care, retirement care or to pay for health coverage when unemployed.