What is a Health Savings Account?
Referred to repeatedly by President George W. Bush as an answer to escalating insurance costs, Health Savings Accounts put money formerly going to insurance companies back into the pockets and control of consumers..
A Health Savings Account is a special savings/checking account that can be saved for retirement (similar to an IRA), or used for medically-qualified expenses at any time. Also like an IRA, funds contributed to a Health Savings Account are 100% tax-deductible and enjoy tax-deferred earnings HSA funds may be used to pay for medically-related expenses not covered by insurance such as pre-deductible expenses, plus many expenses not covered by insurance at all such as eye examinations and eye-glasses, dental care, chiropractic and acupuncture treatments, etc.
Paying uninsured medical expenses from one’s tax-favored HSA means paying these costs with “before tax” dollars rather than “after tax” dollars, making the net cost considerably lower.
An HSA must be coupled with a qualified insurance policy and the most that can be annually contributed to an HSA is the deductible of the policy. Choosing a high deducible (maximum $2,600 individual, $5,500 family), enables a person to send the least amount to an insurance company in the form of premium, and reserve the maximum amount for personal use and control.
Many HSA qualified policies provide 100% coverage after the deductible is reached, rather than the more common 20/80 co-pay system.
Tax-qualified HSA programs are available on an individual and group basis.
Either way, an HSA means less money going into insurance and more money in your pocket. For a quote, call and ask for Jean Carroll, or Contact Us Today! | |
 | Our Specialities |
|
 Jewelers' Insurance
Insuring jewelers is our primary focus. Contact us today for more information or a quote. more info -> |
| | |
 Personal Jewelry
Homeowner insurance isn't adequate for fine jewelry. We also offer insurance for individuals' personal jewelry with low rates and broad coverages. Personal Jewelry -> |
| | |
Help is available 24/7:
* Security Information - helpful information for security...more ->
* CrimeFax - emergency alerts to crime activity...see more->
* Jewelry Trade Journal - see archives jewelry industry articles ->
|
|
