TaskRabbit is partnering with Lively to unlock no-fee Health Savings Accounts (HSA) for Taskers to manage online.
What is an HSA?
An HSA is a personal savings account for health expenses. It can (and should) be used in conjunction with all qualifying high-deductible health plans (HDHP). HSAs are the only tax-advantaged account that individuals and families can use to save for longer-term health costs.
How does it work?
Taskers can use tax-free funds from their HSA to pay for out-of-pocket medical, dental, and vision expenses—thereby reducing their overall yearly healthcare costs. Coupling a high deductible health plan with an HSA helps self-employed individuals reduce their insurance premiums and save tax-free money for health costs.
Benefits of an HSA
- Paying for healthcare costs with your HSA saves you 25%* off the retail cost using the benefits of tax-free contributions and withdrawals.
- There’s no “use it or lose it” policy so you can add money today and use it for years to come.
- Use an HSA to pay for things you want including health expenses like doctors visits, prescriptions, x-rays or visits to the emergency room.
- Plan for your retirement. If you want to save your HSA funds for the future, you can invest them to help grow your health nest egg.
Any Tasker, new or existing, can open a free Lively HSA. Taskers can sign up at livelyme.com/task-rabbit.
*25% assumes combined state and federal income taxes of 25% or more.
Lively is a modern Health Savings Account (HSA) platform for employers and individuals. Lively’s user-centric solution creates an intuitive user experience allowing consumers to get the most out of their HSA. Lively HSAs work alongside HSA compatible plans to make healthcare easier for everyone. Lively is headquartered in San Francisco, CA. For more information please visit Livelyme.com or follow us on Twitter (@LivelyHSA).