PO Box 20185, Portland OR 97294
503.789.7217
karen@insurancesolutionsnw.com
"I free small business from the confusing world of insurance"
Health Savings Accounts offer a more affordable approach to health care for small employer groups, individuals and families. HSA's (formerly known also as MSA's - Medical Savings Accounts) are a type of insurance plan that also allows a tax advantaged bank account. It allows you to set aside funds to pay for your healthcare on a tax-advantaged basis, and works in conjunction with an HSA-federally qualified health benefit plan. It is portable and can travel with you if you change employers.
Many HSA benefit plans will only cover a preventive care exam with the deductible waived, all other medical services including prescriptions are coverable only after the annual deductible is satisfied. An HSA insured member is owner (and depositor) of your own HSA bank savings account. So you are paying your monthly premium for a high deductible insurance policy, and you are depositing your own money into your health savings bank account. The ideal situation is to not have any, or very little medical expenses so as to NOT use your HAS bank savings account, and allow it to grow tax-deferred rising to a level that achieves greater earning power in the bank's annuity plans.
We're happy to answer your questions - simply call us at (503) 789-7217 or email us. The information below provides a broad overview of the program and may help answer some of your basic questions.
To learn more call us at 503-789-7217 or go to http://www.ustreas.gov/offices/public-affairs/hsa/