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Health
Savings Account (HSA) Plans
The smartest
way to pay for your medical expenses!
Assurant Health
was the first to introduce the Health Savings
Account (HSA), a tax-advantaged savings
account. It's the most innovative approach to
health care financing in years. You won't pay
tax on the funds you deposit or the interest
you make. And you can use the funds to pay for
your qualified medical expenses, or start a
nest egg for retirement.
When you look
at the money you can save with a Health
Savings Account (HSA), it's easy to see why
it's the smartest way to pay for your health
care expenses. Take a look:
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Typical
Family Plan
Three times
single deductible: $1,000 |
HSA
Plan
Common
Family deductible: $5,200 |
| Coinsurance |
80%
20%
(doctor office copay) |
100% |
| Premium
Paid |
$6,720 |
$3,016 |
| Your
share of medical care expenses ($1,500
claim) |
$1,000
for deductibles, $100 for coinsurance,
$550 for other non-covered medical
expenses + $1,650
|
$1,500
for medical expenses and $550 for
dental/eyewear expenses + $2,050 |
| Expenses
subtotal |
=
$8,370 |
=
$5,066 |
| Tax
savings on HSA deposits (Assumes a 28%
tax bracket on deposit of $5,200, the
maximum contribution allowed with a
$5,200 deductible) |
$0 |
$1,456 |
Net
expenses
(out-of-pocket minus savings) |
$8,370 |
$3,610 |
| Total
net savings with HSA Plan |
|
=
$4,760 |
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Note:
If you are self-employed, you can
deduct your premium. |
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| This
example is based on the national
average health insurance premium of an
individual with a family of four
living in a metropolitan area, covered
medical expenses totaling $1,500, and
$550 in expenses for dental care,
contacts and eyeglasses. Health
insurance premiums vary substantially
based on age, geographic location and
other variables. Federal tax savings
calculations assume that contributions
are deducted from federal taxes.
Withdrawals for non-qualified expenses
prior to the age of Medicare
eligibility are subject to a 10%
penalty by the IRS. |
Let us
help you be smart about paying for your health
care expenses.
You'll see
these advantages:
- “Tax-advantaged”
dollars — the smartest way to pay for
your medical expenses1
- The money's
always yours — since your balance rolls
over each year, “use it or lose it”
doesn't apply
Assurant Health
offers you seamless, simple administration of
your account — all online. We're the HSA
leader because we're the only company that:
- Offers you
an integrated health plan and HSA
administration all on one site — so you
don't have to go back and forth between
screens to make sense of things.
- Offers you
seven different fund families — so you
can grow your funds
- Provides
three options for waiving the small
monthly fee
Health Savings
Accounts are available with qualified high
deductible health plans, like the One
Deductible plan and the RightStart HSA. Get
more information and an online quote now.
1
Note: Long Term Consumer Care, Inc and its
legal entities are not engaged in rendering
tax, investment or legal advice. Federal and
state tax regulations are subject to change.
If tax, investment or legal advice is
required, seek the services of a licensed
professional.
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