Health Savings Accounts

Health Savings Accounts (HSA) are a way to pay for qualified medical expenses on a pre-tax basis.  To qualify, you cannot be claimed as a dependent, cannot be enrolled in medicare and must have a HSA-compatible health insurance plan.  Typically they are high deductible PPOs.

Similar to IRAs, there is an annual maximum.  For 2014, the maximum is $3300/individual & $6550/family.  That is the amount that can be contributed each year into your HSA account.  This is also the amount that can be deducted from your income for tax purposes.  Unlike a flexible spending account (FSA), it's not a use-it-or-lose-it plan.  The funds in the account just continue to grow until you withdraw it.

Some qualified medical expenses may include:

  • Accupuncture
  • Ambulance
  • Bandages
  • Chiropracter
  • Contact lenses
  • Vision checkup
  • Dental visits
  • Health insurance deductible
  • Eye surgery
  • Fertility treatments
  • Long term care/Long term care insurance
  • Prescription drugs
  • Surgery
  • Psychiatric care
  • Therapy
  • Transplants

More information may be found at

If you qualify and need to open a HSA account, please go to

Please call if you have any questions!

 *PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. We make no representation as to the completeness or accuracy of information provided at these web sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.