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Realize multiple tax advantages1 with an MSA, even if you don’t have a high deductible health plan.

Key Features

  • No Setup or Maintenance Fees
  • Tax Advantages
  • No Minimum Deposit
  • Savings account designated to saving for future medical expenses
  • No setup or annual fees
  • Contributions are tax deductible on your Idaho state income tax return1
  • Earns dividends on entire balance
  • Dividends grow tax-free1
  • Withdrawals are tax free when used for qualified medical expenses2
  • Money rolls over year-to-year automatically
  • Your Idaho MSA is owned by you, not employer;
  • Easy withdrawal access by online transfer, or teller check
  • Does NOT require enrollment in HDHP
  • No minimum deposit to open

1Consult a tax advisor.

2Withdrawals for non-qualified medical expenses are subject to income tax and a 10% penalty. The 10% penalty is waived for persons 65 and over or who have become disabled.

Qualified (tax-free) medical expenses include, but are not limited to, the following: 

  • Medical, vision, and dental expenses
  • Health insurance premiums
  • Supplemental Medicare premiums
  • Long-term care expenses
  • Transportation to and from medical appointments
  • Medical expenses for a dependent child (in most cases) 

Contribution Limits

You may contribute up to $10,000 each calendar year to your Idaho MSA. If you are married and file a joint income tax return, you may contribute up to $20,000 per year. 

Reimbursements that are re-deposited into the MSA are not considered contributions to the MSA.

1Consult a tax advisor.