Question:
What is a Healthcare Savings Account, and can I have one with my current health insurance plan?
Answer:
A Healthcare Savings Account is a tax-deductible, tax-deferred account that you can use to accumulate money to pay for health care expenses. Think of it as a Medical IRA.
You can only have a Healthcare Savings Account if you have a “qualified” high deductible health insurance plan. Not every medical plan is “qualified.” To be a “qualified” plan, there can be no benefits paid out prior to meeting your deductible other than for well care. “Qualified” healthcare savings account plans can be very beneficial when used in the right situation. If you are unsure if your plan qualifies for a Healthcare Savings Account, feel free to contact our office for assistance.
Byars Thompson Buchanan Insurance and Financial Service
2560 Professional Parkway
Santa Maria, CA 93455
805-347-4700
415 East Ocean Ave Suite D
Lompoc, CA 93436
805-736-3411
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment