Currently licensed in IN, MI & OH
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So, What Is An HSA or
Health Savings Account?
An HSA* is a federal tax-deductible savings account set up at a
financial institution to save money exclusively for payment of
qualified medical expenses. This account must be used in
conjunction with a high-deductible health plan that meets
government requirements.
* The HSA is your savings, it is not insurance. The HDHP is your major medical health insurance. The two work together to form a complete long-term consumer-directed healthcare plan.
HSA/HDHP Helps to Strengthen Your Entire Financial Plan
The diagram above shows how an HSA plan strengthens your financial future. The HSA enhances your emergency cash reserve by providing untaxed savings to pay your medical insurance deductible. Unused HSA dollars can also be invested to build wealth, growing tax-deferred much like an IRA or a 401k. The HSA dollars are always immediately available to pay for qualified medical expenses without taxation or penalty.
The HSA is a tax-free long-term medical expense savings plan. It is not insurance. In order to make an HSA complete, it must be paired with a qualified major medical high deductible health insurance plan called HDHP. The HDHP is insurance and fulfills the health insurance need in the "Protection" segment of your financial pyramid. Together, the HSA and HDHP form a complete healthcare plan that provides ownership & control of your long-term health care dollars. This is a consumer-directed healthcare plan.
ThinkHSA is dedicated to helping employers, employees, individuals and families bridle the rising costs of health care.
- For your complete HSA solution, ThinkHSA
- For an HSA health plan design that is right for your budget, ThinkHSA
- For someone you can trust, ThinkHSA
- For peace of mind, ThinkHSA
- For solutions to rising health care costs, ThinkHSA
- To simplify the process, ThinkHSA
Contact us today and we will help you each step of the way:
- Obtain a High Deductible Health Plan (HDHP) through ThinkHSA*
- Set up an HSA with a financial institution through ThinkHSA
- Contribute to the HSA
- Use HSA dollars to pay for qualified medical expenses
- Realize tax savings when computing taxable income on tax returns
* Requires an application that goes through an underwriting process, which could be declined. Do not cancel any existing health coverage until you are certain of acceptance and approval. |
