| Health Savings Account -
HSA Approved Insurance Plans by Assurant |
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Health Savings Account's - The newest concept
in the health insurance market will make
health insurance more affordable by allowing consumers to save money in
a tax-free account to pay for health care costs. Individuals with
self-only policies can make an HSA pre-tax annual contribution of up to
$3,000 and
families can make an annual contribution of up to $5,950 into a HSA
account.
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| HSA's
were approved by Congress as part of the Medicare Prescription &
Modernization Act on December 8th, 2003 and will not only increase
health insurance options, but also help consumers control their own
health care costs. Health
Savings Accounts Explained - Learn More |
| Over 40
million HSA accounts will be established in the next 10 years according
to congressional analysts. Learn
More about the Assurant - One Deductible HSA - Health Savings Account
approved plan. |
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The
right blend of tax-advantage savings and health insurance - Get
A Quote Now |
With
a Assurant Insurance Company One
Deductible Plan and a Health Savings Account (HSA), you get more than complete major medical coverage - you
get premium savings and tax advantages* that translate
into extra money in your pocket.
Invest
those extra funds in your HSA, and they're tax-deductible.
Let your funds gain interest, and it's tax deferred.
Withdraw the funds to pay for qualified expenses (like medical expenses,
eyeglasses, braces, long-term care insurance premiums), and they're tax-free.
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Leave your funds in your HSA and it works like an IRA - only better.
Explore this site to see the many benefits of an HSA, and learn how easy
it is to start and maintain this unique tax-favored account.
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First,
let's see what you could save |
Typical
Plan |
HSA Plan |
|
Aggregate
family deductible: $1,000 Coinsurance: 80/20
|
Common
family deductible: $5,100 Coinsurance: NONE
|
| Premium
Paid (Annual) |
$7,115 |
$3,100 |
| Your
share of medical care |
+
$1,650 |
+
$2,050 |
| expenses
($1,500 claim) |
$1,000
for deductible, $100 for coinsurance, $550 for other non-covered
medical expenses |
$1,500
for medical expenses and $550 for dental/eyewear expenses |
| Expenses
Subtotal |
=
$8,765 |
=
$5,150 |
| Tax
Savings on HSA Deposits |
+
$0 |
+
$1,428 |
| (Assumes
a 28%** tax bracket on deposit of $5,100, the maximum
contribution allowed with a $5,100 deductible) |
|
|
| Tax
Savings Subtotal |
=
$0 |
=
$1,428 |
| Net
Expenses
(out of
pocket minus savings) |
$8,765 |
$3,722 |
| Total
Net Savings With HSA Plan |
|
=
$5,043 |
|
With the HSA
you still have a $3,050 balance in your account |
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Get
more info on the One Deductible HSA approved plan. |
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This example is based on the average
health insurance premium of an individual with a family of four
living in a metropolitan area. Covered medical expenses
totaling $1,000 and $500 in expenses for dental care, contacts
and eyeglasses. Health insurance premiums vary
substantially based on age, geographic locations and other
variables. Federal tax savings calculations are deducted
from federal taxes. Withdrawal for non qualified expenses
prior to the age of Medicare eligibility are subject to a 10%
penalty by the IRS.
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