Health Savings Accounts (HSAs)

HSA benefits

You own it. You decide whether to spend or save the funds in your health savings account. If you decide to change employers or health plans, the account is yours to keep. 

You don’t lose it. Any money not used at the end of the plan year rolls over to the next year.

It can grow. Your HSA is a savings account that earns interest. You can save the money in your account and let it grow, to pay health care costs down the road, even during retirement.  And after you build up a certain amount, you may have investment options.

Tax advantages of an HSA

With an HSA, you also get:

Tax savings. Money you put in to the account can reduce your taxable income.

Tax-free earnings. Money you keep in your HSA earns interest tax free.
Tax-free spending. Money you take out to pay for qualified health care costs is never taxed.

Use the HSA savings calculation tool to see the savings potential and tax benefits of your account.

How an HSA works

• Enroll in an HSA. You must be covered by a high-deductible health plan. And you must not be eligible for coverage under any other health plan.
• You’ll get welcome and debit card materials in the mail.
• Contribute anytime. You, your spouse and family, and your employer can contribute up to the yearly limit set by the Internal Review Service.
• Know how much you have. You can only use the money that is in your HSA to pay for qualified medical expenses.
• Visit the doctor, hospital and other health care providers. Pay for your health care expenses with your account. Or pay out of your own pocket and save your account. Either way, pay until you reach your yearly deductible. 
• Then pay a copay or coinsurance after each visit. Use your HSA if you want.
• Pay until you reach the plan’s out-of-pocket maximum. Then your health plan pays for covered services.

Smart tips on using your HSA

Make the most of your HSA. Here’s how:

Stay in network. Doctors, hospitals and other health care providers in the network have a contract to provide reduced rates to our members. This helps you save. If you’re not a member, check our DocFind® directory to find network doctors and hospitals. Members can just log in to their Aetna Navigator® website.

Know before you go. Compare what doctors and hospitals will charge you for some common services before you make an appointment. Use our member payment estimator*** and other cost of care tools. They’re also on Aetna Navigator.

Keep track of your deductible and fund balances.  Aetna Navigator makes it easy for members. 

Pay only for qualified health care expense. Otherwise you could face tax penalties from the IRS. Get a list of these expenses on Aetna Navigator. Or go to the IRS website and see Publication 502. You should also check your health plan documents.

Pay as you go or let it grow? Our examples  (PDF, 268 KB) can help you decide whether to spend or save your HSA.

More help for using your HSA

Do you have tax questions? Visit the IRS website and see publication 969 called Health Savings Accounts and Other Tax-Favored Health Plans.

Visit the U.S. Treasury website for answers to your questions about health savings accounts.

*HSAs are currently not available to HMO members in Illinois and California.           
** Currently not available for use in Arizona, Florida and Ohio.
*** Estimated costs not available in all markets. The tool gives you an estimate of what you would owe for a particular service based on your plan at that very point in time. Actual costs may differ from the estimate if, for example, claims for other services are processed after you get your estimate but before the claim for this service is submitted. Or, if the doctor or facility performs a different service at the time of your visit. HMO members can only look up estimated costs for doctor and outpatient facility services.