"My HSA along with my health plan is the smartest & most efficient way for me to maintain health insurance. Thanks for your knowledge and understanding of this product I am saving over $ 4000 a year in premiums" "Thanks again" J. W. McBeal Pensacola FL...

"I wish I had an HSA with you 10 years ago. It makes me sick knowing I paid for benefits in my health plan that I never hardly used and wasted my hard earned cash" Thanks for showing me how not to throw away my money and to use it better" Thomas Payne Mobile AL

"I appreciate your attention to detail and your conscientious attitude toward your clients." Marie W Ponte Vedra, FL


Talk to an agent now by calling 1-800-728-9609.

The next generation of HSA's ( Formerly MSA's) became available January 1st 2004 to all Americans not covered by Medicare.

Since January 2004 until now there have been more than 6.1 million HSA accounts and HSA qualified insurance plans set up. HSA's are expected to grow to over 10 million in the next 5 years. This type of health insurance plan is the trend in health insurance for both employer group plans as well as individual and family plans.

WOW! Congress made an already cost effective way to provide health insurance to employees, individuals and family's and the self-employed even better.

The HSA Details...

What is an HSA?

The HSA, which stands for (Health Savings Account), is a tax-sheltered savings account similar to an IRA, but contributions are earmarked for medical expenses and can be withdrawn tax free. Deposits into the account are 100% tax deductible and can easily be used to pay for medical expenses. Withdrawals for the small and routine medical expenses including the deductible are paid for with tax free dollars, once the HSA Qualified plan deductible is met during the calendar year the insured ceases paying for medical expenses out of the HSA account and the insurance company pays.

Where do the contributions go?

Contributions are deposited into a qualified HSA account either with an HSA administrator recommended by the insurance company or a 3rd party HSA account provider. What is not used in the account each year stays in the account and continues to grow interest on a tax favored basis to supplement retirement just like a traditional IRA. Medical expenses before the deductible is met and as soon as the account is set up and contributions are made can be withdrawn tax free for qualified medical expenses. These tax free contributions are in addition to any other retirement plans you currently have and will not effect those plans in any way. Except of course, to lower your tax bill. The contributions made into the account are over and above the premiums you pay for the qualified HSA insurance policy.

What if I have a large medical bill?

Larger medical expenses are covered by a low cost HSA qualified health insurance policy.

How do I save money on my medical bills?

When an HSA is combined with a higher deductible, HSA qualified health plan (required) then the HSA and the insurance policy is meant to replace a much higher cost, more restrictive, traditional health insurance plan. Traditional health plans with co-pays are typically 30 to 70% higher in cost, more restrictive to use than an HSA and still leave you with out of pocket expenses most people don't expect to pay.

How does it Work?

Take the premiums you currently spend on a high cost traditional individual or group plan and split it into 2 parts. One part will go to pay for the lower cost higher deductible health insurance plan and the other part. "The amount saved" would go into the HSA account. There is complete flexibility on where the saved part of the premium goes. (We discuss this before you apply for the qualified insurance policy and again at application time.)

The savings placed in the HSA account can be used for the small medical expenses until the deductible is met.

Should the need arise for a larger medical expense the higher deductible health plan would kick in and limit the out of pocket expenses to the selected deductible each year.

What applies to my deductible?

All covered medical expenses apply to the deductible each year including Doctors office visits, Prescriptions, and any major medical claims. HSA family plans have one deductible for the entire family. So, all covered medical expenses for the entire family apply to one deductible.

How many deductibles are there?

No more deductibles for each family member. There is only one deductible for the entire family when 2 or more people are covered on the same plan. We typically suggest a 100% co-insurance level to limit the entire out of pocket expenses to the chosen deductible.

What else can the HSA be used for?

Tax free dollars can also be used to virtually pay for all other medical expenses typically not covered under traditional types of health plans like dental, eyeglasses, contact lenses, Lasik eye surgery and much more. Click here to see examples of both Qualified Medical Expenses and Non-Qualified Medical expenses.

The many other benefits to the HSA's are outlined in detail when we meet for an appointment either by phone or in person.

We understand HSA's. We know how to set them up for simplicity. We know how to explain them to our clients.

Please contact us at 1-800-728-9609 with questions. Or Get a Quote now.

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