H.S.A. Archives - DesignHealth Benefit Advisors

The Benefit of an HSA and Being Over 65

We covered in previous posts what a Health Savings Account is and how they can be beneficial. One of those benefits is the ability to pull money out of your HSA account once you reach the age of 65 as tax-free dollars even if you are not using it for healthcare expenses. This enables individuals to use their HSA as a part of a retirement plan. You pay into your HSA account each year and accumulate funds that earn interest. If you build upon that at age 65 that money can be used for expenses other than healthcare, and withdraws are […]

Do you know what an H.S.A. is?

June 9, 2015 / Design Health / All Posts, Health Insurance, In The News, Small Business

Health plan options can be confusing and with the A.C.A. in full effect, we wanted to highlight one of the plans that many people are not familiar with. What is a Health Savings Account or H.S.A.? This is a high deductible health plan that enables individuals to create a savings account to contribute funds that are not subject to income tax. This account can be used to pay for “qualified medical expenses” tax-free. When an individual selects an H.S.A. qualified plan premiums are typically lower and deductibles are higher. Traditional health plans in comparison commonly cover co-pays for doctor visits and prescriptions, whereas

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