Ever wonder how an Hsa account can benefit you. Usually an Hsa Account can benefit you in more than 1 way. Here is a list of things you can take advantage of.
1) Lower Monthly Premiums. Premiums generally are about 30% lower than normal premiums
2) Reduce your federal income taxes. Regardless of how your income was earned, any money you deposit into your Health Savings Account is considered an "above-the-line" deduction, giving you a 100% write-off against adjusted gross income.
3)Tax-deferred growth. Like funds in an IRA, the money in your account grows free from federal taxes. You do have to pay taxes if the money is withdrawn for non-medical expenses, but there is no penalty if you are over 65 years old.
4)Pay for dental expenses with pre-tax dollars. Dental expenses from checkups and cleanings, to braces, to toothpaste, can all be paid for with pre-tax dollars from your HSA account. You may even purchase prepaid dental plans with funds from your HSA account.
5) Pay for vision care with pre-tax dollars. You can use HSA funds to pay for checkups, glasses, contact lenses, prescription sunglasses, cleaning fluids, and other expenses related to your eye care.]
6) Rate Guarantee. You can get a better rate guarantee up to 36 months with a higher deductible.
A Health Savings Account (HSA) enables anyone with a qualifying high-deductible health insurance plan to shelter up to $5,450 from federal income taxes. By reducing your adjustable gross income, enabling you to pay for medical expenses with pre-tax income, and through tax-deferred growth, HSAs can reduce your income taxes.
Any Questions or for a rate quote in Georgia, Mississippi, Texas, And Ohio Please contact Rocco Solorzano