HSAs in San Jose CA & Santa Clara CA
It’s All About Options.
Whether you’re looking for individual coverage or trying to decide which type of plan to choose for your employees, Optima Insurance Services LLC can help you find a Health Insurance solution that meets the needs of everyone.
Health Savings Accounts (HSAs) are a newer alternative to Health Insurance and are meant for those who are insured under high-deductible Health Insurance plans. These plans allow individuals to set aside money to into a savings account that they can use overtime for medical expenses that are not covered under their high-deducible plan. With a standard HSA, you can do the following.
- Put money into your HSA (tax free)
- Watch your money grow (tax free)
- Take out money if needed for qualified medical expenses, including dental and vision (also tax free)
Advantages of HSAs
With a Health Savings Account, you get to control the amount of money that you wish to set aside for medical expenses. All deposits, growth, and withdrawals are all tax-free for your convenience, and most important, your money rolls over each year. Unlike flexible spending accounts, you don’t lose money when your policy renews. Whatever you put into your HSA keeps growing, tax-free.
Although there are limits to the amount of money in which you can deposit into your Health Savings Account each year, as well as qualifications, it’s a great way to help you have a lower premium, supply you with medical coverage if necessary, and help you save for your future medical needs.
Contact an insurance specialist at Optima Insurance Services LLC today to learn more about how an HSA can benefit you.