Health Savings Account Overview for California

At we offer a variety of informative health insurance resources.  It’s a great place to spend a few hours researching methods to reduce your health insurance monthly premium cost or getting creative about approaching medical expenses from completely different angles.  Health Savings Accounts are a fantastic method for many types of families and companies to reduce monthly premiums and get a great tax deduction.         


At we can assist your small business with installing a Health Savings Account strategy for your employees.  Both an employer and employee can make tax deductible cash contributions provided the total contribution amount for the year does not surpass the IRS Federal Government limitations.  You can find information on the contribution limits here.   The contributions can be in any amounts under the limitation for the calendar and tax year, but Employer side cash contributions towards employees must be equal meaning an Employer cannot discriminate on the amounts between different employees.  An employer might implement a health savings account strategy to reduce the monthly premium charges which have been increasing at double digit percentages for over a decade.  The health savings account plan may have significantly lower monthly premiums than a rich benefit policy because the health savings account compatible coverage has a high deductible as required by the federal guidelines.  Employers can also tax deduct any cash contributions towards employee health savings investment accounts.

HEALTH SAVINGS ACCOUNTS FOR INDIVIDUALS AND FAMILIES also helps Californians with questions calculating whether or not savings potential exists versus your current situation, submitting an application and choosing a health savings account administrator.  If you and your family are in good health you may stand to save hundreds or thousands of dollars if you happen to be paying high premiums on a rich benefit plan.  Run a quick quote here to see the health saving account premiums for you and your entire family.  The plans are lower cost due to their high deductibles, but remember, all of your medical expenses except ‘preventative care’ will apply to the plan’s general medical deductible.  To find out what is included as preventative care click here.  Also, all of your family members will apply to a single deductible and maximum.  This is an advantage if more than one of your family members has high medical costs.  But, this is a disadvantage if only one person within the family enrollment has large medical bills.  The single person will have to meet a family size deductible and annual out of pocket maximum which could get quite expensive.

For the lucky folks out there with no or minimal medical expenses it is a great way to stash away tax deductible funds for a rainy day.  The money can be kept in the account year after year earning tax deferred interest.    Once you are old enough for Medicare the funds can be used both on Medicare premiums and expenses.


Contact Us anytime at with questions on Health Savings Accounts.


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