Health Savings Accounts

Health Savings Accounts, usually referred to as HSAs, are accounts set up to pay for your medical care and allow you to build up savings to pay for future medical expenses. Health Savings Accounts (HSA's) are tax-exempt savings accounts set up with a high deductible health plan. So you often have lower health care premiums which allows for contribution to your HSA.

Some advantages of HSA's:

• Unused money in your savings account is retained from year to year
• Contributions, Interest and Dividends grow tax free
• Funds used for qualified medical expenses are tax deductible
• You decide where to spend your health care dollars

HSA's are often beneficial for anyone who:

• is interested in a tax advantaged policy 
• wants to accrue a savings account, eligible to pay for IRS qualified expenses, including Long Term Care Insurance Premiums or to accrue the savings for future medical expenses or retirement savings
• is a self-employed person
• is small business owner with 50 or fewer employees

To learn if an HSA health care account is right for you email skovich@sarahkovich.com or call 214.803.3797 today!

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