2026 Health Savings Accounts for Atrium/Advocate Physicians
What Is a Health Savings Account?
A health savings account is a custodial account that you set up with a qualified HSA trustee like a Fidelity or a Schwab, or whoever your HR firm has designated as your HSA custodian, and you use the funds in your HSA to pay for certain medical expenses.
Eligibility is generally for those that have signed up for a high deductible health plan. In 2026, there's also HSA availability for those in a bronze plan or a catastrophic plan. You can check with HR and your health plan to see if HSAs are available.
There are two main uses for HSAs:
- Current medical expenses — like deductibles, dental services, vision care, etc. You can reimburse yourself for those expenses.
- Long-term investing — you can invest the funds in your HSA and then down the road pay for past, current, and future medical expenses.
Important Warning: Make sure you don't pick a health plan just because it has an HSA. You want to make sure that health plan is right for you and your family.
HSA Contributions (2026)
- You are always 100% vested in your HSA money — it's yours immediately.
- HSA funds are NOT use-it-or-lose-it. That's the FSA (Flexible Spending Account). HSA funds roll over to future years.
Three Key Tax Advantages
HSAs are considered the most tax-efficient accounts available:
- Contributions are not subject to income tax.
- Growth — money can be invested and grow tax-free.
- Withdrawals are not subject to tax as long as they're used for qualified medical expenses.
Best Use of an HSA
The best strategy is to:
- Save the maximum each and every year
- Invest the balance for the long term like any other retirement account
- Cash flow your medical expenses each year, keeping excellent records
- In retirement, reimburse yourself for past medical expenses — and use that money however you'd like, such as for vacations
Example: $8,000/Year Saved at 7% Annual Return
Assumptions: 37% marginal federal bracket, 4% state income tax
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