What is a Health Savings Account

A Health Savings Account (HSA) is a savings product that offers a different way for consumers to pay for their health care. HSAs enable consumers to pay for current health expenses as well as future qualified medical and retiree health expenses on a tax-free basis.

In order to take advantage of an HSA, you must be covered by a High Deductible Health Plan (HDHP). They are sometimes referred to as "catastrophic health plans." HDHPs generally do not cover the first several thousand dollars of health care expenses, but will generally cover you after this deductible amount has been met. Since an HDHP costs much less than traditional health insurance plans, the money that you save on insurance can therefore be put into the Health Savings Account. You own and you alone control the money in your HSA. You also decide what types of investments to make with the money in the account in order to make it grow.

Answers to Your Questions About Health Savings Accounts

Bottom Line Insurance Consultants are experts in HDHPs as well as HSAs. We can help you select an HDHP and an HSA that best meets your needs, as well as your budget. Our fees are paid for by the insurance carriers themselves, not passed on to our clients. This enables us to leverage our experience and expertise to help you choose an insurance plan, at no additional cost to you. Plus, we cut the time that it takes you to apply and get approval.

If you would like more information on HSAs and how they may benefit you, please contact the Health Savings Accounts Specialists at Bottom Line Insurance Consultants today. So that there are no surprises or unexpected increases in your premium after you apply, we recommend you talk to one of our consultants before applying. We look forward to working with you.

What is a Health Savings Account | Answers to Your Questions About Health Savings Accounts

Bottom Line recommends that you talk to one of our consultants before applying on any website including ours.   When comparing benefits from each carrier, the benefits aren't always as they appear.  You are making an important decision.  Call for complete policy information before applying. 

There is no added cost when applying through Bottom Line or for consulting with our insurance professionals.  Premiums are the same as buying direct from the insurers and you get ongoing customer service year after year at no added expense to you.