Health Savings Accounts (HSA) are a two-component health plan consisting of:
- a "high deductible health plan" (HDHP) and
- a tax-deductible savings account.
This savings account may be employer or employee funded, and is separate from the insurance policy, which must be "high deductible health plan qualified" (HDHP–qualified"), either as an individually-owned HSA or an employer-sponsored HSA. Almost anyone can take advantage of this form of health insurance coverage.
- TIP: Health Savings Accounts, and Health Reimbursement Accounts, aren't the same, but they are both considered to be consumer-directed health plans (CDHP).
Group HSAs are available for employers of all sizes.
We represent all group carriers and will assist you with determining which is the best fit for you and your family. While HSA plans may look the same, often, rates, deductibles, and optional features are not.
To learn more about HSA health insurance, read on: