Health savings account plans are hot
More and more people are discovering the advantages of establishing a health savings account plan. An HSA plan helps you save with: 1)
lower health insurance premiums, and 2) lower taxes. You also "save" in the long run by building a tax-advantaged savings account similar to an IRA.
The concept: Lower premiums + lower taxes = BIG savings.
The HSA concept is simple. Carry a low cost, high deductible health insurance policy
instead of a high priced plan with co-pays.
Deposit the money saved on premiums into a special tax-sheltered savings account. These deposits are 100% tax-deductible, "above the line."
Withdraw money from the account as needed to pay small bills that arise. Generally, these withdrawals are tax-free! What you don't use
each year stays in the account and continues to grow to supplement your
retirement. Larger expenses should be covered under your high deductible health plan (HDHP).
Establishing a health savings plan is an easy, 2-step process:
- FIRST, become insured under a high deductible health plan that is properly qualified to work in conjunction with an HSA.
- THEN, open and begin funding
the actual HSA account.
Typical example of how an HSA plan saves BIG bucks for families
This is an actual example of how we saved some serious dough for a Georgia family (only the names have been changed for privacy purposes). Ted and Alice are in their early 40's with 2 children and live in the greater Atlanta area. Their prior health plan jumped from $620/month to $750/month. Yes, that's nine-thousand-bucks a year, just in premiums!
We recommended an HSA-qualified plan with a maximum out-of-pocket of $7,000/annually. Their new premium was $340/month, which resulted in a savings of $419/month, or $4,920 a year. They then fully funded their HSA savings account with $5,800, of which $4,920 came from premium savings on their prior plan. The tax savings for funding their HSA account came to $1624 bringing their total savings to $6,455 per year! Now, if they have medical expenses, guess who is "paying" for those bills? Their prior health plan and Uncle Sam (from the premium and tax savings). If disaster strikes, all they will need to come up with is $545 (difference between their $7,000 HSA plan out-of-pocket max and their total savings). Of course, if they have another good year, they get to keep all of that savings! Did they make a wise choice?
(Note: There is no requirement to "fully fund" an HSA account--you can fund it in any manner you see fit, up to the annual maximum, or not fund it at all.)
Getting started - what to do first
The first step is to get quotes on HSA-qualified high deductible health plans--just click the big button that says "get quotes." This is important because if your premium savings are not large enough, the HSA may not make sense for you. And yes, it's true--the HSA is not a "good fit" for everyone. Read my White Paper Report to learn more: 7 Things You Should Know About an HSA.
Service you can trust from our agency
Our insurance agency has specialized in these plans since 1999. Nobody knows the market better. Our simple, streamlined process takes only about 3 minutes on average. We will respond via email with the most competitive quotes from a select group of highly respected insurers. If you prefer, call our offices for faster quotes (see "contact" link at top of page). Please note: You will not be bomarded with calls and emails from agents by using our service. Unlike many so-called insurance websites, we never sell your info to any third party, period. Read my White Paper Report to learn: Why You Should Be Cautious Dealing With "insurance websites".
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I am very impressed with
your service. Other agents didn't seem to understand the HSA, but you helped us from start
to finish and helped us save over $500 a month in the process. You truly
are the HSA king. Thanks so much! J.S. Austin, TX |  |
Already insured with a high deductible plan?
Your policy may not be properly qualified to work with an HSA account--most are not. Read my White Paper Report to find out: Is Your High Deductible Plan Properly Qualified for an HSA Plan?
Just looking for a good place to open the HSA savings account?
Many people visiting our site are just looking to open the special health savings account they heard about. Unfortunately, we are unable to assist the general public with the actual accounts. For our insured clients, however, we provide in-depth consultation coupled with referrals to leading financial institutions that administer HSA accounts. Frankly, opening the account is the easy part--it's just like opening an IRA. The "tough" part is getting properly insured with an HSA-qualified high deductible plan. We try and make that part of the process as easy and painless as possible. If you already have a high deductible plan, see the preceding paragraph, as your plan may not be HSA compatible.
Thanks for visiting!
We look forward to helping you establish your new health savings account plan--but we can't do anything to help you get started until you request a quote, so please do that asap. |
