Health Savings Accounts

If you have purchased individual health insurance before, or are shopping for it now, you probably realize that finding inexpensive health insurance coverage is very challenging. Annual premium increases are usually greater than increases in the cost of living. How can you protect your family for an inexpensive insurance premium? One possible answer is by purchasing a Health Savings Account or (HSA). Click here to receive a free health insurance quote.

An (HSA) combines an affordable qualified high deductible health plan with a tax favored savings account. The consumer benefits from a lower monthly premium combined with the reduction of their taxable income. An (HSA) grows tax deferred, like an IRA, and if you use the funds for eligible medical health expenses, you never have to pay taxes on those funds.

It may sound complicated, but it really isn't. First the insurance purchaser has to select a qualified high deductible health plan. All the carriers we represent on our site offer such plans which give consumers an inexpensive choice for health coverage. Just get a free health insurance quote and you'll see how many of those qualified health insurance plans are available. Next, the tax favored savings account has to be opened. HealthTrust can direct you to several sources for establishing the account. Each year, the insured is allowed to deposit a certain amount into the insurance savings account to help pay for future medical health expenses. The amount deposited into the account is tax deferred, meaning it's deducted from your income before paying your annual income taxes. In additon, the funds in the account grow tax free. Funds can be withdrawn from the account to help pay for approved medical expenses. As long as the withdrawal is for an approved medical expense, the withdrawal is not taxed. Once the insured turns 65, withdrawals can be made for non medical reasons and will be taxed as regular income. Of course, we're not accountants or lawyers and you may wish to speak with your own financial or legal advisor about whether or not an (HSA) would be an inexpensive choice for your health coverage. 

 HealthTrust is proud to be affiliated with HSA BANK, the industry leader in Health Savings Accounts. By linking to their website below, all your questions about (HSA)'s can be addressed. Also, please note, all of the major medical health insurance carriers quoted on our site offer plans which are compatable with Health Savings Accounts.

 HealthTrust wants you not only to recognize the value of health insurance, but also to find a plan which offers you an inexpensive option to meet your health insurance needs.

Receive a free health insurance quote today.

                       Click Here For More Information On Health Savings Accounts (HSA)