A Health Savings Account (HSA) is an innovative way for consumers to take control of how their money is spent on healthcare. HSAPlanfinder.com would like to help with the first step in learning about Health Savings Accounts (HSAs)! Our goal at HSAPlanfinder.com is to provide consumers with a knowledgeable team to help them make informative decisions on their healthcare needs and with selecting High Deductible Health Plans (HDHP) and an HSA to accompany it.
A Health Savings Account (HSA) is an alternative to comprehensive health insurance; it is a savings vehicle that allows people a different way to pay for their health care. Health Savings Accounts (HSAs) enable consumers to pay for current health expenses and save for future medical and retiree health expenses on a tax-free basis.
Health Savings Accounts (HSAs) were created as a way to control health care costs. HSAs are designed to encourage people to be more discriminating about health care purchases and shop around, rather than go anywhere at any cost when an insurance company is paying the bill. HSAs are also designed as a tax cut for consumers.
A High Deductible Health Plan (HDHP) is necessary to be able to take advantage of Health Savings Accounts (HSAs). The minimum deductible to qualify is $1,200 for individuals and $2,400 for families. High Deductible Health Plans (HDHPs) usually cost less than traditional health care insurance and the money saved on health insurance premiums can be put into the HSA.
The consumer owns and controls the money in the Health Savings Account (HSA). HSAs give consumers the freedom to choose how money is spent on healthcare without a health insurance company’s intervention. The consumer can also decide what types of investments to make with the money in the account in order to make it grow for future medical expenses.
Use our website HSAplanfinder.com to learn all about Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs) and become an informed consumer.