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Benefits of Owning a Health Savings Account Plan
Once you establish a health savings account plan, the benefits are numerous. Benefits include:
- Lower monthly health insurance premiums
- More stability in premiums
- Immediate tax savings (all qualified contributions are 100% tax-deductible)
- Long-term growth potential (just like an IRA)
- Tax-free withdrawals to pay for qualified medical expenses
- Tax-free funds can even be used to pay for expenses not covered by insurance (eyewear, eye exams, dental, accupuncture, etc.)
- Tax-free funds can pay premiums for COBRA, qualified long term care insurance plans, or health insurance while unemployed
- Freedom to choose your own physicians (unlike one-Doc HMO models)
- Pre-negotiated discounts with network providers
- Additional cash discounts direct with providers
- More control over your family's health care decisions
Perhaps the coolest benefit is becoming the envy of your friends whose health plan costs are going through the roof!
Our nationwide agency specializes in consumer-driven health care plans such as the HSA. Get a quote and see how much we can help you save with an HSA.
