11/02/2017 An HSA is a way to help you save money on your medical expenses. The main advantages of an HSA are: Tax Savings: An HSA account allows for tax free contributions, tax free distributions and tax free growth on accumulating balances. Affordability: You may be able to lower your health insurance premiums. Ownership: The account belongs to you (not your employer) and is portable if you change jobs. Control: You make all the decisions about the account management including how much to put in, how much to take out and how to invest your funds. Flexibility: You can change your contribution amount at your discretion. Also, all funds remain in the account from year to year. There are no “use it or lose it” rules for HSAs.