A Health Savings Account (HSA) is an account that comes with certain California health insurance plans, where you can save pre-tax money to be used for qualified health expenses. What is the benefit of an HSA? With an HSA, you can set aside money for health-related expenditures that you know are coming up, such as braces or elective surgery. You can also use the regular deposits to your account to pay for any unexpected medical expenses that you haven’t budgeted for.
An HSA gives you a savings cushion for unexpected or preplanned medical expenses by letting you save money in advance. The real benefit is that you get to save pre-tax dollars, which gives you savings on your annual income taxes.
An HSA is a great planning device for anyone who knows that they have a medical expense coming up, but is also great for those who like to keep a financial cushion. Health insurance plans that have HSAs usually have higher deductibles, but are also cheaper. So whether you use your medical insurance a lot, or just have it there for emergencies, an HSA can benefit you.
If you’re interested in California medical insurance with an HSA option, contact the agents at Benefit Packages to go over your options. We are an independent insurance agency and have over 25 years of experience in helping Californians with their health insurance. We’ll help you find the right health insurance plan with an HSA option that will cover your medical insurance needs.