Our Process Finds the Right Health Plan

Health Savings Accounts (HSAs)

A Health Savings Account is a special account, owned by an individual, whose monies can be used to pay for current and future medical expenses, including prescription and over-the-counter medications.

HSAs must be used in conjunction with High Deductible Health Plan insurance (a policy that doesn't cover first dollar medical expenses, except for prevention)

HSA accounts are completely portable.

Plus, there are no use-it-or-lose-it rules. Money can accumulate for years.

HSA accounts can grow through investment earnings, just like an IRA.

HSA Advantages

Distribution is tax-free if taken for qualified medical expenses.

HSA accounts encourage savings for future medical needs. They can even be used to pay for COBRA continuation coverage.

Because the account is owned by the individual (not an employer), s/he decides how much to contribute, where the account is kept and how it's invested, and if and when to use the money for medical expenses.

HDHP premiums should be cheaper than health insurance with traditional deductibles.

At retirement, the individual can use the account to pay for medical expenses after retirement, out-of-pocket Medicare costs; long-term care, and more.