The Vitality Blue Guy brings his very own Health Savings Account Top Ten List to the Vitality Blog! Here’s Blue Guy’s Top 10 reasons why an HSA delivers savings and performance for your California health insurance strategies moving forward! Take it away Blue Guy!
- It’s simplicity personified: California health plan meet tax advantaged savings plan!
- It’s empowering! Having a Health Savings Account gives you money to spend on the health care requirements that matter most to you!
- Spend your health savings funds….or don’t! You can keep the money in your HSA until YOU decide when to spend it! Use out-of-pocket dollars and save HSA dollars for later.
- Your HSA funds are versatile! Spend your HSA dollars on addressing qualified health care expenses, qualified prescription drug needs, or even certain allowable dental procedures! (That’s right! Go ahead and protect that smile with your HSA!)
- Money you save in a tax advantaged HSA reduces your taxable income by that tax year’s contribution!
- No use it or lose it with an HSA! Had a healthy year and didn’t spend one dime of your HSA dollars? Great! Gain tax-free interest and carry the balance over into next year!
- You purchased an HSA-compatible health plan but couldn’t save any money in your Health Savings Account this year? Oops, no problem! You still get the advantage of lower premiums on that high deductible California health plan!
- Your HSA: Your decisions. You pick the eligible savings institution that best suits your needs. You decide how and when to spend your healthcare dollars. You’re the boss with your HSA!
- Stop using a high deductible HSA-compatible health plan? No problem! You can still use those HSA dollars towards qualified health care expenses in the present or future.
- Save those tax free HSA dollars for years up through your retirement and use those dollars for qualified Medicare expenses or even to purchase a qualified long term care plan that helps you maintain your independent lifestyle and financial well being in your retirement years! The HSA: A great way to save for the increased medical expenses we may face in our retirement years.
Well there you go folks! My HSA Top 10 List! Get in touch with your Vitality team California health insurance professional to discuss the many ways the HSA might be right for you and your family and don’t forget: The HSA also makes a great savings and health plan strategy for your California small business and your employees. The Vitality team works with both California health plan consumers from the individual and business community and is equally skilled at helping both sets of clients understand exactly how an HSA can work best for their unique needs!
[...] saved in a Health Savings Account or HSA – which came into being with the Medicare Prescription Drug, Improvement, and Modernization [...]
[...] above: If you find yourself in a position to save money within a HSA, you’ll find that these HSA-compatible plans have multiple benefits including reducing income taxes come tax time along with the ability to grow tax free within a [...]
[...] a HSA-compatible health plan? The more you looked at the HSA, the more enamored you became of the HSA-compatible health plan’s many advantages to the California health insurance consumer. You were particularly impressed by how contributing to a health savings account and building up [...]
[...] plan option that shoppers can or should consider when making affordable premiums a priority. The HSA-compatible high deductible health plan offers California health insurance consumers important ad… in affordability, tax savings, and the ability to be more in control of how their health care [...]
[...] you’re a fan of the Vitality California health insurance Blog, you know we’re fans of the HSA-compatible health plan. We believe it offers an innovative way to achieve savings on your health care coverage, secure tax [...]
[...] we hope you noticed something in the above description: While we’re fans of the HSA-compatible health plan and its many advantages to the plan owner, we tried hard not skew our review of the three different paths taken above in [...]