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Health Savings Accounts (HSA)

As you know, the cost of small group health coverage can be very costly.  For many working Americans buying their own health insurance can be the most affordable and only option.  Many people are unaware you have the option to purchase individual co-pay plans as well as individual HSA plans.

In many cases, HSA plan insurance premiums for individuals and families can be 45-55 percent less than the traditional copay plans. HSA plans have two components: a lower cost, high deductible health insurance product to cover your larger medical expenses, and a tax-favored health savings account (HSA) The idea is simple. The money you save on premiums can be put into your tax-favored savings account, and then withdrawn to help pay your deductible or pay for other qualified medical expenses.

You own your savings account. You make the decisions on how and when to spend the money. Your unspent health care savings roll over year after year. In other words, you won’t loose what you don’t spend in any given year. And, if used for qualified medical expenses now or after retirement, the money in your savings account will never be taxed.

United Healthcare of Texas (Golden Rule), BlueCross BlueShield of Texas, and Humana all offer competitive individual plans that include copay and HSA plans.

United Healthcare of TX   800 974-USA

Blue Cross Blue Shield of TX   800 531-4456

Humana   800 672-9165

If you would like some more information on Individual/Family coverage please don’t hesitate to call me at 482-4135. You may also reach Keith Wydermyer at 482-4120.

Regards,

Mike Hetherly