 |
 |
Health Savings Accounts A Health Savings Account (HSA) is an alternative to comprehensive helath insurance; it is a savings vehicle that allows people a different way to pay for their health care. The HSA enables you to contribute funds on a pre-tax or tax-deductible basis, which you may use to pay for eligible medical expenses (see more on eligible expenses below). Use your HSA in conjunction with traditional health insurance policies that are qualified as High Deductible Health Plans (HDHP), or plans with a minimum deductible of $1100 for individuals and $2200 for families. CLICK HERE to view our available health insurance policies. With an HSA, you are in control! You own and you control the money in your HSA. You decide how to spend the money without a health insurance company telling you what to do. You also decide what types of investments to make with the money in the account in order to make it grow.
Eligible Medical Expenses An eligible medical expense is an expense that pays for healthcare services, equipment or medications as described in IRS Publication 502.
*IMPORTANT: In 2011, your HSA may no longer be used for over-the-counter drugs, unless they are prescribed by your doctor. |
