Health Savings Accounts are now available to everyone when combined with a qualifed High Deductible Health Plan!

Why would an HSA be good for you?  You save on insurance premiums; you get a tax deduction for what you save; interest earnings accumulate tax deferred and you pay no taxes for Qualified Medical Expenses!

A Health Savings Account combines high deductible health insurance with a tax favored savings account. Money in the savings account helps pay the deductible. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest and is your to keep. Anyone who is not entitled to Medicare can accumulate tax advantaged savings for health care needs. You must have a qualified high deductible health insurance plan and no other similar health insurance. For families, a qualified health plan must have a minimum deductible of $2,000, one deductible for the entire family.

Health Coverage Benefits
Medical: 100% coinsurance after the deductible is met (optional 80% coinsurance to lower premium); One deductible per family; Quality medical, including adult preventive care and prescription drugs.  Savings Account: Savings can be used to help pay the deductible and for noncovered medical expenses, such as dental and vision; Savings reduce or eliminate annual out of pocket exposure; Savings that are not spent remain in the HSA tax deferred.

Tax Benefits
Contributions to the HSA are 100% deductible, just like an IRA. Withdrawals for covered medical expenses are never taxed. Interest earnings accumulate tax deferred, and if used for covered medical expenses are tax free.