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Health Savings Accounts (HSA)
HSA plans have two components: a lower cost, high deductible health insurance product to cover your large medical expenses, and a tax-favored health savings account. Read more >>
- Protect Yourself Now from Catastrophic Medical Bills
- Save Money on Current Taxes
- Investment Savings for Future Medical Expenses
- One of the Best Retirement Savings Vehicle Available--Because if you structure this correct you will never pay taxes on your HSA investment
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...and More - Health & Life Plans
On December 20, 2006 President Bush signed the Tax Relief and Health Care Act of 2006. The Act includes several significant Health Savings Account provision. The law will make HSAs more flexible and easy to use for consumers and employers. Key changes to HSAs include:
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Increased HSA contribution limits
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No contribution reduction for persons who join the high deductible health plan mid-year
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Consolidation of existing Health Reimbursement Account (HRA) and Flexible Spending Account (FSA) funds into HSAs
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Earlier cost-of-living adjustments for HSA limits
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Rollover of existing IRS funds into HSAs
Now is the best time to purchase an individual health insurance policy for you and your family. Read more >>
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We also offer short-term medical insurance through Celtic.
Health Plans Represented
HSA Advice and Strategies
Helpful Resources
Each year adjustments are made to the HSA qualified-plan deductibles, out-of-pocket maximums and annual contribution amounts. These Costs of living Adjustments are based on the Consumer Price Index changes issued by the Department of Labor.
Maximum HSA Contribution amounts for 2007:
$2,850 for Single and $5,650 for a Family
$800 Catch-Up Contribution for Post 55 individuals
Advanced Planning for 2008!
$2,900 Maximum Contribution for Single Coverage
$5,800 Maximum Contribution for Family Coverage
$900 Catch-Up Contribution for Post 55 individuals