Savings Accounts

TeamPerks Benefits.

Health Savings Account (HSA)

• An HSA is a tax favored account owned by an individual in which funds accumulate to pay for eligible medical expenses working in conjunction with a HDHP.
• Eligible medical expenses are determined by the IRS and include medical, dental and vision.
• Your HSA belongs to you so your funds will transfer year to year, and you many continue to use the funds for eligible expenses should you leave the company.

Dependent Care Flexible Spending Account (FSA)

• The Dependent Care FSA allows you to set aside pretax dollars to pay for daycare expenses for children under the age of 13 or for adult daycare for a disabled spouse or dependent.
• The primary purpose of the expense is to care for the dependent so that the parent can work or go to school.