Learn how to compare HSAs
New to Health Savings Accounts? Get all the information you need in our HSA Information section. Our online Health Savings Account guide explains exactly how to view your quotes, compare features, check the physician network, and choose the plan that is best for you.
Run an Instant HSA Quote
Our typical client saves $100 – $300 per month when they switch from a traditional health insurance plan to a Health Savings Account plan. Plans are available from Aetna, Blue Cross Blue Shield, Cigna, Humana, Nationwide, and many others. No one can offer lower rates on these plans!
Choose a plan and sign up!
Once you pick a plan, just click the “Apply” button, and in 10 or 15 minutes your application will be complete. We will confirm by email, and keep you informed as your application goes through the approval process. And if you need any assistance, just give us a call!
Live HSA Question & Answer Teleseminar
Learn Everything You Want to Know About Health Savings Accounts
Learn more about Health Savings Accounts and HSA for America. Sign up for our next free teleseminar and discover how you can save money, protect yourself against unexpected medical expenses and enjoy far greater health care, all from the comfort of your own home or office.
Health Savings Accounts are simple and easy to understand healthcor
Health Savings Account plan can give you coverage much like traditional health insurance, but it saves you money in three major areas. First, HSA plan premiums are on the low end and these plans avoid the big rate hikes seen in other plans. Second, you can deduct money you deposit in your HSA from your taxable income to reduce your tax bill. And, third, HSA money that you don’t need for health or dental care can grow with tax-free earnings to build up your savings for retirement.
To get started, you need a health insurance plan that qualifies to be partnered with an HSA. As soon as your HSA plan has become effective, you may make an HSA deposit and start collecting tax-free earnings.
HSA plans are available from several leading insurance companies depending upon where you live. The plans are all similar in that they have deductibles that are at least $1,200 for individual coverage or at least $2,400 for family coverage for 2012. Annual out-of-pocket costs are capped (including deductibles and co-payments, but not premiums) at $6,050 for individuals or $12,100 for families.
Your HSA will allow you to legally avoid income tax by depositing up to $3,100 for individuals or $6,250 for families into your HSA in 2012. Whatever you deposit up to April 15, 2013 is considered an “above the line” tax deduction. That just means you get a federal income tax deduction for your HSA contribution even if you take the standard deduction and don’t itemize deductions.
If your employer makes an HSA contribution for you, it is “excluded” from your income and not subject to any income tax or FICA. Either way, this will immediately reduce your federal income tax. All but three states also allow you to take a state income tax deduction for HSA contributions. To see if your state offers tax deductions, please see our HSA State Income Tax page.
Get your HSA-qualified insurance plan as soon as possible so you can start growing your account with tax-free earnings. On our site, you will find comprehensive information on Health Savings Accounts, HSA trustees and administrators, and instant quotes on HSA-qualified health insurance plans at the guaranteed lowest rate available.
Opening your own HSA is Action Step #1 in our Complete Protection Strategy, but our analysis has revealed several other ways that you can get more coverage and pay less money. When you know how to do it, you can cut thousands of dollars off your health care expenses every year just by being a smart shopper. Take a minute to look at the other Action Steps to save even more money.
Health Savings Accounts in the News healthcor
Why Healthcare Spending Is Down
For the past few years, we’ve been spending less on healthcare, and experts have been trying to track why this is happening. If the current trend continues, we can expect to see a great reduction in healthcare spending. The most obvious explanation is the recession. When more people can’t afford health insurance, or the out-of-pocket costs to meet a plan’s deductible, they pay for less healthcare. But, putting off seeing a doctor until it’s an emergency could mean higher healthcare costs
Health Care And Health Savings Accounts
Melissa, a blogger, compared the health care offered in the U.S. and in Canada. Despite her hesitation about the universal health care system of Canada, she was able to prove that health care in Canada is even better than health care offered in the U.S. She was surprised to find that Canadians really do adhere to their routine check-up schedule, which makes it easier to treat and prevent illness at an early stage. During her time in Canada, health care was very costly since every doctor
Health Savings Account Enrollees Number 13.5 Million
Since Health Savings Accounts were introduced in 2004, enrollment rates have increased significantly each year. People have switched to high-deductible policies to save money on premiums and to give themselves the opportunity to open an HSA. In the latest census released by the America’s Health Insurance Plans, HSA enrollees numbered 13.5 million as of January 2012. That’s an 18 percent increase from the enrollment rate seen in January 2011, which was 11.4 million. If you look back
Can Health Reimbursement Arrangements Supplement Insurance?
Health Reimbursement Arrangements (HRAs) can supplement a health insurance plan, but there’s no requirement that they be combined with one. HRAs give employers a lot of flexibility and alternative ways to offer employees health care benefits. Small business owners know traditional group plans are not cost effective. An HRA will allow them to reimburse employees for individual plan premiums at a savings. Individual policies may not allow the addition of dental benefits, though, and
How Health Savings Accounts Work
Health Savings Accounts have been around since 2004. This special type of health insurance was created to help people with high-deductible health plans get tax-deductions on their medical expenses. HSA plans are also known for low monthly premiums, plus tax-free earnings. Your HSA contributions can be deducted from your taxes whether you save the money, invest it, or spend it on qualified health care. Unlike Flexible Spending Accounts, the unused balance at the end of the year is not
Is There A Difference Between An HSA And An HRA?
You may have heard about Health Savings Accounts and Health Reimbursement Arrangements. Although the two are both tax-advantaged accounts and have close acronyms, they are very different. In certain situations, you might be able to get tax advantages with both an HSA and an HRA, so here’s more information about how they work. Ownership. According to rules set by the IRS, HRAs are available to C-corps, S-corps, and Schedule C sole proprietors whose spouse works for the business. Health
Health Savings Accounts Are A Great Retirement Strategy
Retirement: Have you planned for it even though you’re far from reaching retirement age? I know all of us feel a little apprehensive since retirement usually means higher health care costs and reduced income. Actually, if you haven’t planned well, poor health can be devastating. Did you know there’s a way to combine health insurance and saving for retirement? Health Savings Accounts were created by the IRS as tax-advantaged accounts that need to be paired with a qualified high-deductible Blue Cross Blue Shield Banks on Health Savings Account Plans
Blue Cross Blue Shield members now have their own bank, but it won’t help them if they’re looking for an auto loan or a good rate on a CD. Blue Healthcare Bank’s sole purpose is handling health care-related banking services, such as Health Savings Accounts. The bank is being set up by the Blue Cross and Blue Shield Association members, including Blue Cross of Idaho, one of the first four members to work with the bank.
Tango Health Exposes Common Compliance Pitfalls for Companies Offering HSAs
AUSTIN, TX– – Tango Health, Inc., the premier provider of Health Savings Account management software and services, today announced the launch of their 10 Point Compliance Program as part of their HSA …
Distress ‘off the Richter scale’ as Queensland Health searches for savings
Nurses are experiencing “off the Richter scale” distress as Queensland Health boards look for savings, including efficiencies worth $40 million in Brisbane Metro South, their union says.
Alliant Credit Union Partners with SaveDaily.com to Offer Health Savings Account Investment Options healthcor
SEAL BEACH, Calif., Aug. 28, 2012 /PRNewswire/ — SaveDaily, Inc., (OTCBB: SAVY), a leading provider of low cost mutual fund investing platforms used by financial institutions, has announced today that …
QualityStocks News – SaveDaily to Supply Alliant Credit Union of Chicago with Tax-favorable Investing Platform
Alliant Credit Union will utilize SaveDaily platform to bolster member Health Savings Account choicesScottsdale, Arizona (PRWEB) August 29, 2012 QualityStocks would like to highlight SaveDaily, Inc., a publicly traded company that produces and supports proprietary record keeping and workflow software solutions in the financial services industry worldwide. It owns a proprietary financial services …
Distress ‘off the scale’
Nurses are experiencing “off the Richter scale” distress as Queensland Health looks for savings: union.
Blue Cross Blue Shield Approved to Start Health Savings Account Bank
Blue Cross Blue Shield has received federal approval to establish a savings bank that will be allowed to administer Health Savings Accounts. Blue Cross Blue Shield said it had received assent from the Office of Thrift Supervision, a Treasury Department agency, to establish a federally insured savings bank to be based in Utah. It will be called Blue Healthcare Bank. Health Savings Accounts can be set up by consumers who have high-deductible insurance plans, and Blue Cross Blue Shield offers some of the most competitive HSA plans on the market.
Humana to Cap Health Savings Account Premiums for More Than One Year
After years of double-digit premium increases for employers providing health plans to workers, Humana and other insurers are trying a different approach: new health savings account plans that cap premium hikes at guaranteed low rates if buyers agree to a multiyear contract and workers absorb increases in deductibles. Even doctors known to be skeptical of almost anything the health insurance industry suggests say they are intrigued with the health savings account idea – hoping it might be one remedy for unpredictable, rising health care costs.