Benefits Network offers individuals the option of Health Savings Accounts or HSAs.
- One factor contributing to the rising cost of health care is coverage for routine services and procedures.
- The HSA is a low-cost, tax-favored form of medical insurance that consists of a high-deductible policy with a low-tax medical savings account to help you afford out of pocket payments.
- Money left in the savings account earns interest and is yours to keep.
With an HSA, individuals pay most regular medical expenses out of pocket. Once the deductible is met, the insurance starts paying.
Want to learn more? Contact Benefits Network today!
Deductibles and Savings with an HSA
Typically, an HSA requires the purchase of a policy with a minimal annual deductible of $1,300 for individuals and $2,600 for families, with maximum Out of Pocket of $6,450 for individuals and $12,900 for families.
On the medical savings side, individuals are allowed to put away up to $3,350 (for 2015); families are allowed to save up to $6,650 (for 2015) tax free to cover the policy deductible and more.
Contact Benefits Network today! Let us help you determine if a Health Savings Account is right for you and your family.