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Old 19th November 2016, 06:32 PM
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Default Bank Of America GM Health FSA

Hii sir, I wants to get the Information About the Health Saving Account of the bank of America Will you Please provide It ?
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Old 19th November 2016, 07:13 PM
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Default Re: Bank Of America GM Health FSA

A Health Savings Account (HSA) is a type of personal savings account that helps those with qualified high-deductible health plans (HDHPs) save money on many out-of-pocket medical expenses like doctor visits, vision and dental care, and prescriptions.

Benefits for the Health Saving Account :


Pretax contributions: Contributions to your HSA can be made with pretax dollars which means every dollar you contribute is a dollar saved (your employer may offer a payroll deductionFootnote 3 option to help you make contributions on a pretax basis)

Tax-free gains: Any gains on the money in your HSA are tax-free so you keep 100% of any money your HSA savings or investments earn, boosting the amount of money you have to cover your out-of-pocket medical costs.

Tax-free withdrawals: You won't pay taxes on money you withdraw for qualified medical expenses

Eligibility Criteria

count eligibility requirements set forth in Section 223. If an individual/employee establishes a Health Savings Account and he/she is not otherwise eligible, he/she will be subject to adverse tax consequences.

In addition, an employer who makes contributions to an HSA of an ineligible individual may also be subject to adverse tax consequences.

For Any Query you may Contact on the Helpline Number of the Bank of America

Customer service: 00 1 315-724-4022
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