Not just for Employees and Employers anymore! Now approved for Individual and Family Plans!

Contribution Guidelines Contributions which exceed the maximum amount are not deductible to the extent they exceed the limits. The maximum deduction for tax purposes is equal to the deductible selected for the qualifying health plan.

Health Savings Accounts:  What is an HSA?

A Health Savings Account (“HSA”) is a combination of a tax favored savings account and a
qualified high deductible health insurance policy. The savings account can be used to pay
for routine medical, dental, prescription drugs, eye-wear and other IRS qualified medical
expenses. Major medical expenses are paid by the insurance policy.

What are the benefits of a Health Savings Account (HSA)?

		The interest or other earnings on the assets in your HSA are tax-free.
		You can invest your HSA as you would any other investment account.
		You pay much lower insurance premiums and can put the difference in your HSA.
		You can claim a tax deduction for contributions you make even if you do not

           itemize your deductions on Form 1040.

		The contributions remain in your HSA from year to year until you use them.
		You can use your HSA funds for medical expenses at any time without paying taxes

           on the money. See the list of allowable medical expenses.

		Your HSA funds are available with checks or debit cards.
		HSA funds taken out after age 65 for purposes other than medical expenses are taxed

          as regular income.

		When you use your HSA funds to pay for doctors in the provider network, you will pay a
		discounted fee.  Discount programs are available for prescription drugs.

Ken Johnson Insurance, Inc.
            "Caring About Your Future"