The Advantages of Opening a Lumenos HSA
Anthem Blue Cross provides a number of insurance options – in addition to traditional health insurance plans, there is also the Lumenos Health Savings Account, which works somewhat differently. A Health Savings Account is funded by the account holder’s contributions. One of the advantages to a HSA is that contributions are exempt from tax, another is that funds rollover from year to year so that you do not lose the money you have invested in your medical security if it remains unused.
An HSA plan can Provide you with Funds for Retirement
Another advantage to opening a HSA plan is that if you leave the company or retire, remaining contributions in your account are yours to keep. In essence, a Health Savings Account is like a regular banking account, except that funds may only be used for medical expenses until you retire or leave the company. Because of the tax break, a Lumenos HAS can provide not only a great way to ensure cover for medical expenses, but can also provide a smart way to invest your money.