Health Savings Account (HSA) compatible insurance plans may reduce your costs for health care and even lower your taxes!
“You helped me see that my low deductible plan wasn't doing anything but costing me too much money. My HSA plan cost less, but still covers the big things.”
D.R. Harwinton, CT
Get HSA health insurance quotes from our website. You'll see health & dental insurance plans online, many of which are HSA compatible. HSA medical health insurance plans are now very popular because of the tax benefits and many people like the hsa policy design because it offers excellent health insurance. Saving plans that they may or may not open are seen as a bonus by many of our clients.
Similar to an IRA or the old MSA (medical savings account plans), money deposited in to health savings accounts can lower your tax bill. Ther is a big difference between an HSA ad an IRA. Unlike an IRA, but similar to the MSA plans you can use HSA funds to pay your health insurance deductible and other uncovered medical expenses. Also unlike some of the older plans, you get to keep the money left in your HSA at the end of the year.
An HSA is similar to an IRA fund. You can open an HSA when you own a qualifying high deductible catastrophic medical insurance plan. You can deposit money in your HSA each year and use the money to pay for uncovered medical expenses with pre-tax dollars. There are several companies offering qualifying qualifying high deductible catastrophic medical insurance plans in Connecticut and we work with all of them.
HSA plans are better than the FSA and Medical Savings Accounts because you can roll over any unused money in your HSA and use it for retirement. The tax rules on HSA's in this regard are similar to IRA tax regulations.
Alston J. Balkcom
Connecticut Licensed Insurance Agent since 1985
“My son Joel Balkcom and I look forward to answering your questions”.
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