What is an HSA?

Pre-tax saving for the future

A health savings account offers a tax-advantaged opportunity to save money to pay for healthcare expenses, both now and in the future.

If you enroll in the Premium Plus HSA*, Gulfstream contributes to your HSA and you can too. If you chose either the Premium HSA or Select HSA, Gulfstream does not contribute seed money to your HSA.

The HSA is better than a regular savings account: because it is funded with pre-tax money, your money will not be taxed when you use it for eligible healthcare expenses, and your savings can grow tax free. We call that a triple tax advantage.**

A health savings account (HSA) allows you a tax-advantaged way to save money for healthcare expenses, both now and in the future. Because the HSA is funded with pre-tax money, it is not taxed when you use it for eligible healthcare expenses, and your savings can grow tax free. 
You are not taxed when you:

• Deposit money*
• Earn interest*
• Send money on qualified healthcare expenses, now or in the future

This is called a triple tax advantage.

*HSA contributions and earnings are taxed. 

Eligibility

To contribute to an HSA, the IRS requires you to be enrolled in a high deductible health plan like one of our HSA plans.

You cannot be enrolled in TRICARE, Medicare A or B or have other coverage through a non-high deductible plan (including a spouse’s Full Use Health Care FSA).