Open a Health Savings Account.
A Health Savings Account (HSA) is a special account that allows you to set aside money to help pay for future medical expenses, and deduct those contributions on your tax return. To qualify for an HSA, you must be covered by a High Deductible Health Insurance Plan (HDHP) and satisfy other eligibility requirements.
HSA funds are never taxed when used for qualified medical expenses, and all unused funds can be rolled over from year to year. You can learn more about HSAs from the federal government.
This ALEC Health Savings Account features a competitive rate, low or no fees and special conveniences. In addition, ALEC also offers a Health Savings Certificate Account that, compared with the Health Savings Account, provides a higher rate and a fixed term or a Health Savings Investment Account where you can invest your HSA in mutual funds.
Already have an ALEC HSA? Manage it online.