Is a Health Savings Account for You?

Health Savings Accounts and You!

First you may asking yourself, what is an HSA? An HSA is a Health Savings Account that works together with high deductible health insurance plans.  An HSA will provide you with opportunities to save for current and future health care. A high deductible health plan will cost less, but can still provide quality coverage for your family.

Is an HSA a solution to help you save money and meet Health Insurance requirements?

  • Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA.
  • HSA’s are beneficial for individuals who are self-employed or those whose employers do not provide health insurance.
  • Money in an HSA is tax-deductible, growth is tax-deferred and as long as the money is used for a qualified health need you will not be taxed on the money.
  • HSA funds are not use it or loose it. Funds rollover year after year.

Health Insurance Solution

In 2014, you can contribute up to $3,300 for an individual or $6,550 for an individual with family coverage.

A high deductible health insurance plan is defined as a health plan with an annual deductible of not less than $1,250 for self coverage or $2,500 for family coverage and must not exceed $6,350 for self-only coverage and $12,700 for family only coverage.

Call us today toll-free at 855-533-1776 to learn if a HSA may be right for you.