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Tips to maximize your HSA savings

Tips to maximize your HSA savings. HSA educational series. HealthEquity webinar series: Health savings account basics Tips to maximize your HSA savings HealthEquity member portal overview www.healthequity.com/webinars.

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Tips to maximize your HSA savings

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  1. Tips to maximize your HSA savings

  2. HSA educational series HealthEquity webinar series: • Health savings account basics • Tips to maximize your HSA savings • HealthEquity member portal overview www.healthequity.com/webinars HealthEquity Advisors, LLCTM is a separate, wholly owned subsidiary of HealthEquity, Inc.

  3. Maximize your HSA opportunity • Save now: • Lower monthly insurance premiums • HSA contributions aren’t taxed • Qualified medical expenses are tax-free1 • Save for the future: • HSA funds roll over year after year • You keep the money even if you changejobs or insurance plans • Tax-free interest earned • Simple investment options2 • Same: doctors, network, negotiated discounts 1. HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-free with very few exceptions. Please consult a tax advisor regarding your state's specific rules. 2. Investments available to HSA holders are subject to risk, including the possible loss of the principal invested and are not FDIC insured or guaranteed by HealthEquity, Inc.. HealthEquity, Inc. does not provide financial advice.

  4. Spend smart Costs for a specific procedure or medical test can vary by provider or facility, even under the same health plan. Things to remember: • Transparency tools • Major procedures • Procedure codes for price quotes • Stay in network

  5. Spend smart: generic drugs Generic drugs typically cost 80-85% less than their brand equivalent.1 1. Source: https://www.fda.gov/downloads/drugs/resourcesforyou/consumers/buyingusingmedicinesafely/understandinggenericdrugs/ucm305908.pdf

  6. Spend smart: shop around Visit RetailMeNot.comto compare prices between brand & generic as well as between your local pharmacies. Use a price transparency tool to compare medical procedure prices such as HealthcareBluebook.com. Shop with confidence. Discount online retailerHSAstore.com helps ensure that you purchase qualified products at great prices. HealthEquity, Inc. is not affiliated with the aforementioned companies and is not responsible for their policies or services.

  7. Spend smart: care facilities A visit to the ER can cost up to five times more than a visit to an urgent care facility that provides the same treatment1 • Urgent care: minor lacerations, fractures, bumps, sprains, sore throats, ear infections, and other "just don’t feel good" conditions. • Emergency room: potentially life threatening conditions like stroke or chest pain. 1. Source: https://www.regence.com/emergency-room-vs.-urgent-care 2. Source: https://www.debt.org/medical/emergency-room-urgent-care-costs/ (updated June 6, 2017)

  8. Review your benefits Billing errors can cost you money, regardless of who made the mistake. Tips: • Compare provider statements to your explanation of benefits (EOB) from your health plan. • Immediately contact your health plan to address any discrepancies.

  9. Maximize your HSA contributions in 2020: • Single-coverage: $3,550 (2019: $3,500) save up to $700 in taxes!1 • Family-coverage: $7,100 (2019: $7,000) save up to $1,400 in taxes!1 • Catch-up contribution, age 55+: $1,000 Put money into your HSA 1. Estimated savings are based on an assumed combined federal and state income tax bracket of 20%. Actual saving will depend on your taxable income and tax status. HealthEquity does not provide tax advice.

  10. Healthcare costs in retirement *The average American couple will need $301,000 to have a 90 percent chance of having enough money to cover out-of-pocket healthcare costs in retirement. Based on median prescription drug expenses. Source: Employee Benefit Research Institute 2019 - https://www.ebri.org/content/savings-medicare-beneficiaries-need-for-health-expenses-in-2019

  11. HSAs vs. IRA or 401(k) IRA/401k savings (Roth or traditional) are taxed at some point. HSAs are not taxed if they are used for qualified medical expenses.1 After 65 no penalty for non medical (Subject to tax if non-qualified medical expense) 1. HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-free with very few exceptions. Please consult a tax advisor regarding your state's specific rules.

  12. Cover the Medicare gap • Qualified medical expenses not covered by Medicare can always be paid from your HSA tax-free.1 • Prescriptions • Medical • Dental • Vision • Hearing expenses • Copays • Premiums 1. HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-free with very few exceptions. Please consult a tax advisor regarding your state's specific rules.

  13. Extra fuel for your retirement • Maximize your tax-free earning potential through investing • Take the guesswork out of investing with Advisor™ (Powered by HealthEquity Advisors, LLC) HealthEquity.com/Advisor Investments available to HSA holders are subject to risk, including the possible loss of the principal invested and are not FDIC insured or guaranteed by HealthEquity, Inc.. HealthEquity, Inc. does not provide financial advice. HealthEquity Advisors, LLC™, a wholly owned subsidiary of HealthEquity, Inc. and an SEC-registered investment adviser, does provide web-based investment advice to HSA holders that subscribe for its services (minimum thresholds and additional fees apply). HealthEquity Advisors, LLC also selects the mutual funds offered to HSA holders through the HealthEquity, Inc. platform. Registration does not imply endorsement by any state or agency and does not imply a level of skill, education, or training. HSA holders making investments should review the applicable fund’s prospectus. Investment options and thresholds may vary and are subject to change. Consult your advisor or the IRS with any questions regarding investments or on filing your tax return.

  14. Powerful resources • HSA balances can grow with tax-free earnings from a choice of: • No-risk FDIC-insuredcash account • Low-risk Yield Plus • Varying risk mutual funds Investments available to HSA holders are subject to risk, including the possible loss of the principal invested and are not FDIC insured or guaranteed by HealthEquity, Inc.. HealthEquity, Inc. does not provide financial advice.

  15. Investment advisory services HealthEquity, Inc. does not provide financial advice. HealthEquity Advisors, LLC™, a wholly owned subsidiary of HealthEquity, Inc. and an SEC-registered investment adviser, does provide web-based investment advice to HSA holders that subscribe for its services (minimum thresholds and additional fees apply). HealthEquity Advisors, LLC also selects the mutual funds offered to HSA holders through the HealthEquity, Inc. platform. Registration does not imply endorsement by any state or agency and does not imply a level of skill, education, or training. HSA holders making investments should review the applicable fund’s prospectus. Investment options and thresholds may vary and are subject to change. Consult your advisor or the IRS with any questions regarding investments or on filing your tax return.

  16. Save now, cash in later Watch your HSA balance grow • Pay out of pocket for qualified expenses • Delay your reimbursement and save toward a future financial goal or a dream _________. • There is no time limit with an HSA to reimburse yourself for qualified medical expenses that you pay out-of-pocket • You can accumulate the reimbursable amount until you reach a determined goal while building tax-free earnings. (fill in the blank) HealthEquity does not provide legal, tax, financial or medical advice.

  17. Mobile app Convenient, powerful tools: • On-the-go access for all account types • Take a photo of documentation with phone and link to claims and payments • Manage debit card transactions • View claims status • Manage claims • Available for iOS and Android Accounts must be activated via the HealthEquity website in order to use the mobile app.

  18. Available around-the-clock, every day • Helpful support for members • Based in Salt Lake City 866.346.5800 Melissa HealthEquity team member

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