HSA stands for 'Health Savings Account' which are tax-exempt accounts that help people save money for eligible medical expenses. In order to qualify for an HSA, the policyholder must be enrolled in an HSA-qualified high deductible health plan, and must not be covered by any other health insurance or Medicare, and cannot be claimed as a dependent on someone else’s tax return
2013 HSA contribution limits:
- Individuals (self-only coverage) - $3,250 (up $150 from 2012 - $3,100)
- Family coverage - $6,450 (up $200 from 2012 - $6,250)
For more information about HSA health plans, please call our office at 360-464-1622.