A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit.

Roll Over – With an HSA, you own the account and all contributions. Unlike flexible spending accounts (FSAs), the entire HSA balance rolls over each year and remains yours even if you change health plans, retire or leave your employer.

Autopilot Your Savings – Once enrolled, you can opt to automatically contribute to your HSA each month to make saving for dentistry easier.

Tax Benefits – Money put into your HSA is not taxed, you earn tax-free interest on HSA balances, and HSA funds used for qualified medical expenses are not taxed.

Invest Your Savings – Once your account balance reaches $2,000, you can increase your earning potential by investing any funds over that amount in mutual funds. A comprehensive line-up of mutual funds is offered with options designed to fit your individual needs.

First, your patient must activate their card/account online at www.myhappymouth.com and use the Group ID# you have provided them for your custom program. After enrollment, patients have access to enroll with an HSA through HealthEquity right there on the website. A patient can log into myhappymouth.com anytime using their Group ID# and Patient ID# to apply for an HSA. Health Savings Accounts are provided only to qualified patients.

MyHappyMouth helps lower the cost of HSA participation for your patients:

Typical HSA fee = $3.95/month
MyHappyMouth HSA fee = $2.50/month

That’s a 37% savings!
HSA monthly fees are withdrawn from your patient’s HealthEquity HSA account.

To make tax-free contributions to an HSA, the IRS requires that:

1) You are covered by an HSA qualified health plan.
2) You have no other health coverage (such as other health plan, Medicare, military health benefits, medical FSAs).
3) You cannot be claimed as a dependent on another person’s tax return.

An HSA paired with an HSA-qualified health plan allows you to make tax-free contributions to an FDIC-insured savings account. Balances earn tax-free interest and can be used to pay for qualified dental expenses. HSA-qualified health plans typically cost less than traditional plans and the money saved can be put into your HSA.

HSA’s empower savings:

• Lower monthly health insurance premiums.
• Money put into your HSA is not taxed.
• You earn tax-free interest on HSA balances.
• HSA funds used for qualified dental expenses are not taxed.
• You can invest your HSA funds for increased tax-free earning potential.
• HSA funds remain yours to grow.

With an HSA, you own the account and all contributions. Unlike flexible spending accounts (FSAs), the entire HSA balance rolls over each year and remains yours even if you change health plans, retire or leave your employer.

Supplement your retirement
The average American couple will need $265,000 to cover out-of-pocket health care costs in retirement. An HSA can help fill this Medicare gap as well as dental, hearing and vision expenses. Qualified medical expenses remain tax-free, even into retirement. In addition, after age 65, you can use your HSA much like a 401(k) and withdraw funds for any purpose.

Invest your HSA to maximize your tax-free earning potential
Once your account balance reaches $2,000, you can increase your earning potential by investing any funds over that amount in mutual funds. A comprehensive line-up of mutual funds is offered with options designed to fit your individual needs.