HEALTH SAVINGS ACCOUNTS

A Health Savings Account (HSA) lets you save and pay for medical expenses using money that's tax deductible. As long as it's used for qualified medical expenses, the money also stays tax free when it's withdrawn. Designed to work together with a high deductible health plan, an HSA covers routine medical expenses while the accompanying insurance policy protects against major medical catastrophic events. You can then personally manage your healthcare dollars, making it possible to cut expenses and save money over the cost of a traditional health insurance policy. Your balance also can be carried over from year to year, even if you change jobs or insurance cariers. The HSA account can also help pay for dental, vision and over the counter medications.

                                                                                                                    Minimum Annual      Maximum Annual

                                                                           Deductible               Contribution 

Insured Only                                                        $1,200                       $3,050

Family                                                                 $2,400                       $6,150

If you are 55 or older you have a $1,000 annual catch up provision.

If you would like to see the list of qualifying eligible expenses the savings plan can pay for and to see if you qualify for this great opportunity to manage your health care expenses, please give us a call or complete and submit the contact request form today.