October 15 marks national observance to increase HSA education and awareness for nearly 38 million people covered by these tax-free accounts
DALLAS, Oct. 7, 2024 /PRNewswire-PRWeb/ -- HSA Store, the first and leading online store to exclusively sell products that are eligible with health savings account (HSA) funds, announced today that it will celebrate HSA Day on October 15 with the launch of new HSA Learning Center resources and special savings for consumers. The Learning Center launch supports open enrollment education, and is the first of many new learning tracks coming soon. Account holders who shop at HSAStore.com on October 15 will receive a special discount, while consumers can also enter to win a Mystery Bundle Giveaway via Instagram between October 7 - 15.
According to a recent report, Americans have $137 billion saved in nearly 38 million HSAs as of the middle of 2024, demonstrating consumer interest in and the financial power of these accounts. However, the experts at HSA Store believe lack of understanding about how HSA funding works can prevent individuals and families from enrolling in and making the most of these accounts. That's why the e-commerce leader has launched new, interactive HSA Learning Center content, just in time for HSA Day.
"HSAs provide financial security and the flexibility to pay for a wide variety of specialty and everyday healthcare needs," said Itamar Romanini, vice president and general manager of HSA Store, a Health-E Commerce online brand. "We take pride in delivering a guess-free shopping experience and industry-leading educational resources that allow account holders to make the most of their tax-free funds and to flex their HSA to meet their personal lifestyle needs."
New HSA Store Learning Center resources for open enrollment include a self-guided, interactive module that teaches individuals and families the basics of HSAs and helps them identify how they can personally benefit from enrolling in and using an HSA. A second module walks individuals through a comparison of flexible spending accounts FSAs vs. HSAs to help them make informed decisions about which account to enroll in during the annual open enrollment election period. Additional resources available at HSA Store include:
- Comprehensive, searchable HSA eligibility list;
- HSA Tax Savings Calculator and Projected Future Value Calculator;
- My HSA Expense Dashboard to simplify recording HSA expenses for tax purposes;
- Educational articles and Ask the Experts tips;
- HSA Your Way Style Guide; and
- HSA Perks Dashboard to track savings earned from HSA Store purchases.
"Our mission at HSA Store is singular and constant: To simplify tax-free healthcare accounts. We achieve this through educational content that is informed by our proprietary consumer insights, and by offering HSA-eligible products and telehealth services that reflect the needs and interests of account holders," said Romanini. "For our team and for consumers who shop with us, every day is HSA Day."
What is an HSA?
An HSA is a tax advantaged account that allows users to set aside pre-tax income to cover qualified medical expenses. HSAs can be used to pay for a wide variety of eligible expenses, including everyday healthcare products, copayments, prescription and OTC medications, telehealth services, and more. HSAs reduce an account holder's taxable income. HSA funds always belong to the account holder, and unused funds roll over from year to year and can be used in retirement. An individual or family can enroll in an HSA through an employer-sponsored benefit or individually, as long as they are enrolled in a qualified high-deductible health plan.
Visit HSAstore.com to learn more about HSAs and to spend HSA funds.
About Health-E Commerce
Health-E Commerce is the parent brand to FSA Store and HSA Store, online stores that serve the 70+ million consumers enrolled in pre-tax healthcare accounts. The company also created Caring Mill, a popular private-label line of health products through which a portion of every purchase is donated to the Children's Health Fund. Since 2010, the Health-E Commerce brands have led the direct-to-consumer e-commerce market for exclusively pre-tax health and wellness benefits. Health-E Commerce plays an essential role in expanding product eligibility for important new categories within the list of eligible medical expenses.
Media Contact
Barbara Tabor, HSA Store, 651-230-9192, [email protected], www.HSAstore.com
SOURCE HSA Store
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