Save Money with a Health Savings Account (HSA)

Build a tax free savings account

 

Health Savings Accounts (HSAs) are here!

Do you want a flexible, convenient and tax-free way to help pay for your health-related expenses? If so, an HSA may be right for you. It provides:
 
    • Tax Savings: HSA contributions will be tax deductible (up to your plan deductable or $5,100 annually, whever is less), and withdrawals for qualified health services also will be tax-free.
    • Flexible Funding: You, your employer and other qualified individuals can contribute to the account.

    • Choice: Your HSA can be used to pay for qualified health expenses for you and your covered dependents.

    • You also will be able to use funds for non-health related expenses (subject to tax rules).

    • Expanded Health Care Options: With an HSA, you may have access to our health discount program. You can save 10% – 50% on many health and well-being services so your account dollars go further.

    • Discounted services include, but are not limited to:
      • Dental, vision and hearing
      • Infertility
      • Long term care
      • Acupuncture
      • Smoking cessation
      • Nutrition and fitness

    • Fund Accumulation: If you don’t use all the money in your account during the year, you won’t need to worry about losing it.

    • Interest Earnings: While your funds are accumulating, you will earn interest on the account balance.

    • Retirement Planning Options: You can use your accumulated funds to plan for pre- and post-retirement-related expenses. If you are over age 65 (or Medicare eligible), you will be able to take distributions for non-health related expenses and avoid the 10% tax penalty (gross income tax reporting applies).

    • Portability: If you change jobs, the funds will be yours to take with you to your next employer.
 
You choose how and when to use your HSA funds. You own the account, the money and all decisions on how to spend it.
 
Where should you accumulate your HSA funds? Please click here for the answer.
 

To qualify for an HSA, you and your dependents must be enrolled in a qualifying high-deductible medical plan. During your employer’s next open enrollment period, you can check your benefit plan materials to see if you are eligible for an HSA.

Do you have to change doctors? In 99.9% of our cases, no.

Contact us today for a free quote: 719-472-6669 or 1-866-472-6669
 

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