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Eligibility

First off, you have to have a high deductible plan with your regular health insurance company. It can be with any kind of health plan, as long as the deductibles are considered high. Talk to your health insurance company for details on what is considered a "high deductible."

This differs from area to area, but in general, over $1,000 for an individual or over $2,000 for families is considered a high deductible. This is the

A Health Savings Account, or HSA, is a good way to put away money (tax free!) to use for your health expenses. If you have a high-deductible plan with a health insurance company, you may qualify for an HSA.

It works much like an IRA. You pay money into the account and it is tax-deferred. The money can only be used to pay for medical expenses. At the end of each year, the money in your HSA rolls over into the next year, so it's always there for you to use in the future.

How Do I Get One?

According to the law, you must have a high-deductible plan with a health insurance company. This is a good deal because high deductible plans are cheaper than those with low deductibles. With a high deductible plan, you will be paying more out of pocket, and your insurance company saves money by not having to process those claims.

Usually, you would be paying a lot whenever you go to the doctor or need medical treatment. The deductible is the part of your medical bills that you pay, not the insurance company. An HSA gives you a tax-free way to pay those deductibles and save money on your insurance.

How You Save Money

With an HSA you save money on...

- Premiums. High deductible health insurance plans have lower premiums, so you will be paying less per month.

- Out of pocket expenses. As mentioned before, an HSA helps take the sting out of those high deductibles you will have to pay when you do see a doctor.

- Taxes. It may not sound like much, but you can save thousands on taxes over time using an HSA and high deductible health insurance plan. The tax deferment is one of the big bonuses of the plan.

Each state has a maximum yearly contribution. This is usually something like $3,000 for individuals or $5,000 for families. There is no minimum contribution.

Eligibility

First off, you have to have a high deductible plan with your regular health insurance company. It can be with any kind of health plan, as long as the deductibles are considered high. Talk to your health insurance company for details on what is considered a "high deductible."

This differs from area to area, but in general, over $1,000 for an individual or over $2,000 for families is considered a high deductible. This is the

use in the future.

How Do I Get One?

According to the law, you must have a high-deductible plan with a health insurance company. This is a good deal because high deductible plans are cheaper than those with low deductibles. With a high deductible plan, you will be paying more out of pocket, and your insurance company saves money by not having to process those claims.

Usually, you would be paying a lot whenever you go to the doctor or need medical treatment. The deductible is the part of your medical bills that you pay, not the insurance company. An HSA gives you a tax-free way to pay those deductibles and save money on your insurance.

How You Save Money

With an HSA you save money on...

- Premiums. High deductible health insurance plans have lower premiums, so you will be paying less per month.

- Out of pocket expenses. As mentioned before, an HSA helps take the sting out of those high deductibles you will have to pay when you do see a doctor.

- Taxes. It may not sound like much, but you can save thousands on taxes over time using an HSA and high deductible health insurance plan. The tax deferment is one of the big bonuses of the plan.

Each state has a maximum yearly contribution. This is usually something like $3,000 for individuals or $5,000 for families. There is no minimum contribution.

Eligibility

First off, you have to have a high deductible plan with your regular health insurance company. It can be with any kind of health plan, as long as the deductibles are considered high. Talk to your health insurance company for details on what is considered a "high deductible."

This differs from area to area, but in general, over $1,000 for an individual or over $2,000 for families is considered a high deductible. This is the

r need medical treatment. The deductible is the part of your medical bills that you pay, not the insurance company. An HSA gives you a tax-free way to pay those deductibles and save money on your insurance.

How You Save Money

With an HSA you save money on...

- Premiums. High deductible health insurance plans have lower premiums, so you will be paying less per month.

- Out of pocket expenses. As mentioned before, an HSA helps take the sting out of those high deductibles you will have to pay when you do see a doctor.

- Taxes. It may not sound like much, but you can save thousands on taxes over time using an HSA and high deductible health insurance plan. The tax deferment is one of the big bonuses of the plan.

Each state has a maximum yearly contribution. This is usually something like $3,000 for individuals or $5,000 for families. There is no minimum contribution.

Eligibility

First off, you have to have a high deductible plan with your regular health insurance company. It can be with any kind of health plan, as long as the deductibles are considered high. Talk to your health insurance company for details on what is considered a "high deductible."

This differs from area to area, but in general, over $1,000 for an individual or over $2,000 for families is considered a high deductible. This is the

take the sting out of those high deductibles you will have to pay when you do see a doctor.

- Taxes. It may not sound like much, but you can save thousands on taxes over time using an HSA and high deductible health insurance plan. The tax deferment is one of the big bonuses of the plan.

Each state has a maximum yearly contribution. This is usually something like $3,000 for individuals or $5,000 for families. There is no minimum contribution.

Eligibility

First off, you have to have a high deductible plan with your regular health insurance company. It can be with any kind of health plan, as long as the deductibles are considered high. Talk to your health insurance company for details on what is considered a "high deductible."

This differs from area to area, but in general, over $1,000 for an individual or over $2,000 for families is considered a high deductible. This is the

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Eligibility

First off, you have to have a high deductible plan with your regular health insurance company. It can be with any kind of health plan, as long as the deductibles are considered high. Talk to your health insurance company for details on what is considered a "high deductible."

This differs from area to area, but in general, over $1,000 for an individual or over $2,000 for families is considered a high deductible. This is the very least; some states require higher deductibles for eligibility to join an HSA.

You will have to notify the HSA company about your pre-existing conditions and apply just like you do with a regular health plan. If you have a pre-existing condition or other health risks, this will delay the processing of your application. They can also refuse your application. It works in the same way as regular health insurance does.

A high deductible insurance policy from your health insurance company, coupled with a Health Savings Account, can save you money every year on taxes. And, it's an easy, convenient way to pay for your health care needs.