 HSA's
Why do I need an HSA (Health Savings Account)?
An HSA is a savings account created for the purpose of paying for medical expenses that are not normally covered by the insurance plan. An HSA is available when you are enrolled in a high deductible medical insurance plan and are not receiving Medicare benefits. This combination of health insurance and savings account can benefit you in several ways.
- HSA plans generally offer lower premiums.
- A check book or debit card is issued in your name for access to the savings account.
- You receive tax deferred earnings on the balance in the savings account.
- Tax free withdrawls when savings are used for "qualified medical expenses".
- Contributions to savings account are deductible from your federal gross income.
- Savings account can be used for spouse and dependent health care.
- Savings account can be used to pay for uninsured services such as copays, deductibles, dentist, vision, naturopaths, acupuncture, etc., etc.
- Savings account can be used to pay the premium for Long Term Care Insurance.
- HSA's have been called the Health Insurance of the Future.
Call Peter George Davaz with your questions about HSA's
Contact PGA at 602-527-5422
Not affiliated with the United States Government or any other federal agency.
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