The Benefits of a Health Savings Account

​​Your health is your most valuable asset, and it’s the key to living the life you’ve worked hard for. A Traditional Health Savings Account (HSA) provides a tax-advantaged way to save for healthcare expenses. With a Qualifying High Deductible Health Plan (QHDHP), you can contribute to your HSA and use the funds for IRS-approved medical expenses, both now and in the future.

Open an HSA Account

Triple Tax Advantage
  1. Tax-Free Contributions: Deposits made directly from you into your HSA result in an HSA year-end tax deduction.
  2. Tax-Free Earnings: Account holders do not pay income tax on any interest earned on the account balance or earnings from investing HSA dollars.
  3. Tax-Free Withdrawals: If the qualifying medical expense was made after you established your HSA, you can use the funds in your HSA to reimburse yourself for out-of-pocket expenses without tax implications. There is no time limit to reimburse yourself for qualified medical expenses which means you can build tax-free earnings.
Your HSA money is always yours

Unlike the Flexible Spending Account (FSA) “use it or lose it” rule for the specific tax year, your HSA allows you to rollover your unused account balance from year to year. Regardless of who made the contribution and your ability to continue to contribute, the balance you’ve accrued is still yours.

Investment Opportunities

Once your account reaches a minimum balance, you can invest your HSA funds, potentially growing your savings over time.

We also offer the Shifa HSA for investors who wish to manage their healthcare spending in accordance with Islamic Investing Principles.

Opening an Account

Opening a Traditional Health Savings Account with Saturna Capital is quick and straightforward. Before you apply, be sure to check your eligibility. You can find the eligibility requirements in the FAQs below, or on our online account opening page.

 

Contact Us

If you have any questions about which account is right for you or how to get started, our team is here to help. 
For personalized assistance or to learn more, contact us at 833-456-0550.

Frequently Asked Questions

See if an HSA is right for you. You can also learn more about the advantages of Saturna HSAs, including our online features and tools.

About HSAs

How do I qualify for an HSA?

To qualify for an HSA, you must be enrolled in a Qualified High Deductible Health Plan (QHDHP). A QHDHP is a health care plan with a lower monthly premium and a higher deductible. In addition, you cannot be enrolled in another health plan or be claimed as a dependent on another person’s tax return.

Use the questions below to see if you are eligible for an HSA. If you have any questions on how to respond or the impact of your responses on your potential HSA, please consult your tax adviser.

  1. Are you covered by a qualified high deductible health plan (HDHP)? For 2025, any plan with a deductible of at least $1,650 for an individual or $3,300 for a family. The maximum out-of-pocket expenses are $8,300 for an individual and $16,600 for a family.
  2. Are you covered by another health plan that is not a qualified high deductible plan that provides benefits already covered under your HDHP?
  3. Are you enrolled in Medicare?
  4. Are you claimed as a dependent on another person's tax return?
Am I eligible to contribute to an HSA?

To be eligible to contribute into an HSA, you must participate in a Qualified High Deductible Health Plan (QHDHP) and to not be enrolled in any other non QHDHP healthcare plan, which includes but is not limited to Medicare or TriCare.

Please note that Saturna Trust Company is not responsible for providing tax advice. If you have any questions on how to respond or the impact of your responses on your potential HSA, please consult your tax adviser.

Who can contribute to my HSA?

Contributions into your HSA can be made by you or your eligible family members. If you are unsure if you are enrolled in a QHDHP, please check with your health insurance provider or company’s HR department.

How can I save with the Triple Tax Advantage?

HSAs provide a triple tax advantage:

  • Tax-free contributions
  • Tax-free earnings
  • Tax-free withdrawals
What can I spend my HSA balance on?

You can use your HSA balance to pay for qualified medical expenses (shown in IRS Publication 502) up to the amount of your yearly health care insurance deductible. The Internal Revenue Service (IRS) defines allowable expenses. For more information, please visit www.irs.gov/publications/p502 or refer to IRS Publication 502, Medical and Dental Expenses. You may also consult your tax professional.

Common allowable expenses include:

  • Acupuncture
  • Birth control pills
  • Chiropractic services
  • Dermatology treatment
  • Emergency transportation
  • Eyeglasses and contact lens supplies
  • Hearing aids
  • LASIK surgery
  • Nursing homes and care
  • Optometry treatments
  • Orthodontia and dental treatment
  • Orthopedic services (including shoes)
  • Osteopathy
  • Over-the-counter medications (with a prescription)
  • Pediatric services
  • Prescription medications
  • Psychiatric care
  • Psychology services
  • Cessation programs
  • Vaccines
  • Medical weight loss programs
If I open an HSA, can I also enroll in a health care Flexible Spending Account (FSA)?

No, you cannot enroll in both. If you are married, you may not have coverage under your spouse’s flexible spending account (FSA). You can only have a “limited purpose” FSA. Examples: unreimbursed dental, vision and/or hearing care expenses and out-of- pocket medical expenses you paid after you met your plan deductible.

How do I contribute to my HSA?

You can make contributions to your Saturna HSA by sending a personal check or setting up recurring ACH transactions via your bank. Login in to your account today to make contributions.

How much can I contribute to my HSA?

You can choose to contribute to your HSA up to the IRS annual limits. For 2025, the maximum contributions for your HSA are $4,300 for individual coverage, and $8,550 for family coverage. If you are 55+ you can contribute an additional $1,000 (in 2025) yearly as a catch-up contribution. These limits include all sources of contributions whether they come from you, your employer, or a family member.

Is my money safe in an HSA?

Yes. Within your Saturna HSA Wallet you have an FDIC bank deposit account insured up to a balance of $250,000. Once your HSA balance is greater than $500 you can invest in mutual funds that carry various levels of risk and reward, similar to investments in a retirement savings plan.

Can I roll over money from my IRA or 401(k) into my HSA?

You may make a one-time, tax-free transfer into your HSA from your IRA. However, you cannot move money from your HSA into your IRA. You are not allowed to transfer funds from your 401(k) into your HSA.

Do contributions from other sources have to be claimed on my income taxes?

If you received contributions from your employer or family members, you do not need to claim them on your annual income tax return.

Does my HSA money expire?

No. You own your HSA, and your HSA money rolls over year after year, making it a great way to save for medical expenses now and in the future. In the case of your death, any funds remaining in your HSA will transfer to the beneficiary named in the HSA beneficiary designation form.

What happens to my HSA when I change health plans?

Your HSA is yours, and in the event you change jobs or health care plans, you still own your HSA. Remember, to contribute to your HSA you must be enrolled in a qualified high deductible health plan (QHDHP). If you are no longer enrolled in a QHDHP, you can still use the funds in your HSA for qualified medical expenses but will no longer be able to make contributions.

How do I transfer any existing HSA balance?

You may transfer the balance from another HSA into your Saturna HSA and continue to make after-tax contributions that you can deduct when filing your annual tax return. Once you established your new Saturna Trust Company HSA, you have two ways to transfer your existing balance:

  • A direct transfer of all the balance from another HSA.
  • Distributing funds to yourself, and then rolling over all or part of the HSA balance into your Saturna HSA.
When can I take money out of my HSA?

If you have funds available, you can withdraw money from your HSA whenever you need it, either now or in the future. If you withdraw money for non-qualified purchases, under the age of 65, you will be subject to income taxes plus a penalty fee. However, if you are over the age of 65, you may withdraw money for non-qualified expenses without penalty, but you will pay income taxes on the withdrawn amount.

About Saturna HSAs

Which Saturna affiliated funds can I invest in for my Saturna HSA?

Make the most out of your Saturna Trust Health Savings Account (HSA) by investing. We've curated a list of mutual funds with no minimum investment. We selected the funds using specific criteria, which include 1,3,5 and 10-year performance, manager tenure, benchmark consistency and net expense ratio. We review the list, but we don't monitor your individual account.

You can view this list by downloading the Saturna Traditional HSA fund menu 

Can I invest in non-affiliated mutual funds for my Saturna HSA?

Yes, however it is important to note that investments held in non-Saturna funds are charged an annual asset-based fee 0.30%.

What are the features of Saturna’s HSA Wallet?

Saturna has partnered with UMB Bank to bring you an interest bearing, FDIC-insured bank account to pay for qualified medical expenses.

  1. Saturna HSA VISA© Debit Card: You no longer need to use cash, checks, or wait to be reimbursed for out-of-pocket expenses such as prescriptions and over-the-counter items. Instead, simply use your VISA Debit Card at point of purchase.
  2. Online Bill Pay: For medical procedures or hospitalization, you may decide to use the Saturna online banking feature to pay your invoice.
  3. Online Reimbursement: For out-of-pocket expenses, you can transfer money from your HSA account into your personal checking/savings account or request a reimbursement check.
What ReceiptVault?

The IRS may request that you show proof of how you spent your tax-free money. The recordkeeping of your HSA receipts is solely your responsibility. It is important to maintain all receipts, records, and other documentation as proof that the money withdrawn from your HSA was used for qualified medical expenses. Within the Saturna HSA Wallet, the ReceiptVault is available to store and organize receipts online for qualified healthcare expenses for as long as you maintain your HSA with Saturna.

All new HSA contributions go into your FDIC Insured bank account within your Saturna Wallet.

Can I set automatic contributions?

Yes. We know that it can be troublesome to remember to login and invest your new contributions each time. Saturna’s “Change Contribution Elections” feature will automatically help you invest any new contributions in various mutual funds once you meet your required $500 minimum Wallet balance.

How do I increase my minimum Saturna Wallet balance?

You can also increase the minimum Wallet balance by using the “Set Wallet Balance” feature. This allows you to build a larger bank account balance with new contributions to accommodate higher than expected medical expenses. Money held in your HSA Wallet is FDIC insured against loss and is a safe place to keep assets that do not have a long enough time horizon to be invested in mutual funds.

How do I pay for medical expenses with my Saturna HSA?

You’ll receive a Saturna Visa® debit card to pay for qualified expenses not covered by your QHDHP. Simply swipe/tap the debit card at a point of purchase or store your debit card in a digital wallet like Apple Pay, Samsung Pay, Garmin Pay, or FitBit Pay.

Use Saturna’s ReceiptVault to store and organize receipts for your qualified health care expenses. Save your receipts, since you may need them as proof in an IRS audit. Out-of-pocket expenses can be reimbursed to you from your HSA.

How do I access my Saturna Trust Company HSA?

We offer a variety of methods to access your Saturna HSA. Visit www.saturna.com to log in into your account. Once logged in you may check your balance, update investment options, and make non-payroll contributions.

You can call us at 1-888-333-1879 or email us at [email protected]. Our website, www.saturna.com/hsa, is also a great resource for many FAQs.

Reimbursement does NOT include insurance premiums with the exceptions of long-term care insurance premiums, premiums on a health plan during any period of continuation coverage required by federal law (for example, “COBRA” coverage), or premiums for health care coverage while you receive unemployment compensation. You can find a full list of qualified expenses at www.irs.gov/forms-pubs/about-publication-502.

Why Choose Saturna?

High-Quality Mutual Funds

One

High-Quality Mutual Funds

Saturna Mutual Funds aim to provide value-driven investors with stable performance in the long term, without compromising on ethical standards. To see how we create and manage our funds, visit our Investment Approach page.

Broad Investment Choices

Two

Broad Investment Choices

We offer a selection of Saturna no-load mutual funds to meet a variety of investment objectives. By investing in more than one fund, you can tailor your own risk and return objectives.

Cost-Efficient Investing

Three

Cost-Efficient Investing

Saturna Capital is committed to helping you save time and money. There are no fees for opening or maintaining accounts invested in Saturna-affiliated mutual funds, and our asset-based fee for non-Saturna funds is only 0.30% annually.

Time-Saving Tools

Four

Time-Saving Tools

Manage your HSA easily with online tools like bill pay, a the Saturna HSA VISA debit card, ReceiptVault, and automatic investing. Learn more in the FAQ section.

Knowledgeable, Personalized Service

Five

Knowledgeable, Personalized Service

Representatives with decades of experience at Saturna Capital offer expert guidance to help you make informed investment decisions, and optimize your HSA.

Client Resources

Accounts with Saturna's No-Load Mutual Funds and Self-Directed Brokerage accounts are not advisory accounts; Saturna Brokerage Services does not provide investment advice. Saturna Capital provides investment advice only under specific contracts.

INVESTMENTS IN SECURITIES ARE: NOT FDIC-INSURED · MAY LOSE VALUE · NO BANK GUARANTEE
Saturna Trust Company, in its capacity as the Saturna Capital Corporation Direct Customer Product Sponsor, selects the mutual funds in the Saturna Trust Health Savings Account (the “HSA”) unless you participate in your employer sponsored HSA. In that case, your employer sponsored HSA mirrors the mutual funds selected by your employer as the plan sponsor of your 401(k) plan. UMB Bank, n.a., a wholly owned subsidiary of UMB Financial Corporation, is the HSA custodian. Saturna Trust Company, in its capacity of sub-custodian to the HSA, provides mutual fund settlement, custodial, and recordkeeping services to the HSA.

The mutual funds in the Saturna Trust Company HSA Plan are not FDIC insured, and are not an obligation of, or guaranteed by, UMB Bank, n.a. or Saturna Trust Company. Mutual funds may fluctuate in value and involve investment risk including the possible loss of principal. There can be no guarantee about the attainment of any particular investment goals, investment performance, or investment objectives.

Saturna Trust Company is a wholly-owned subsidiary of Saturna Capital. HSA deposit products offered by UMB Bank, n.a. Member FDIC.

High-Deductible Health Plans constitute insurance products, which are not offered by Saturna Trust Company, or UMB Bank, n.a. and are not FDIC-insured.All mention of taxes is made in reference to federal tax law. Neither Saturna Trust Company nor UMB Bank n.a., nor its parent, subsidiaries, or affiliates are engaged in rendering tax or legal advice and this document is not intended as tax or legal advice.

States can choose to follow the federal tax-treatment guidelines for HSAs or establish their own; some states tax HSA contributions. Please check with each state’s tax laws to determine the tax treatment of HSA contributions, or consult your tax adviser.

The Amana Funds limit the securities they purchase to those consistent with Islamic principles. This limits opportunities and may affect performance.