How Does Aetna HSA Work?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses while saving on taxes. If you have an Aetna HSA, here's how it works:

When you enroll in a high-deductible health plan (HDHP) offered by Aetna, you are eligible to open an HSA account.

Contributions to your Aetna HSA can be made by you, your employer, or both. These contributions are tax-deductible and can be used to pay for qualified medical expenses.

Here's how an Aetna HSA works:

• Contribution Limits: The IRS sets annual contribution limits for HSAs. For 2021, the limit is $3,600 for individuals and $7,200 for families.
• Tax Advantages: Contributions are tax-deductible, grow tax-free, and withdrawals for qualified medical expenses are tax-free.
• Roll-Over: Unlike Flexible Spending Accounts (FSAs), the funds in an HSA rollover from year to year, allowing you to build a savings cushion for future healthcare needs.
• Investment Options: Some Aetna HSAs offer investment options to help your money grow over time.
• Portability: Your Aetna HSA is portable, meaning you can take it with you if you change jobs or health plans.

By understanding how your Aetna HSA works, you can make the most of this valuable healthcare savings tool.

Health Savings Accounts (HSAs) are powerful financial tools that help you manage your healthcare expenses, especially when paired with an Aetna high-deductible health plan (HDHP). These accounts allow you to pay for a variety of medical costs while enjoying significant tax benefits.