An individual or family can contribute a maximum of amount of money to their HSA per year ($3,100 for an individual and $6,250 per family in 2012), or an employer can contribute for them on their behalf.
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San Diego, CA (PRWEB) March 29, 2012
Compare Health Insurance, a local San Diego health insurance comparison network, announced this month that it will now offer customers expert advice and assistance on applying for and setting up a Health Savings Account.
Health Savings Accounts (HSA) were created by the U.S. government in 2003 as part of the Medicare Prescription Drug Improvement and Modernization Act. They are a vehicle to assist individuals or families with high-deductible health insurance plans save for future medical expenses.
An individual or family can contribute a maximum of amount of money to their HSA per year ($3,100 for an individual and $6,250 per family in 2012), or an employer can contribute for them on their behalf. The account can then be invested in a number of ways, including in stocks, bonds and mutual funds. At any time the individual can withdraw the money from their HSA tax-free to pay for medical expenses like routine medical care, co-pays, perscriptions and emergency medical services.
Consumers have a number of decisions to make when considering a HSA. They must determine whether or not a HSA makes sense for their situation, how much they can afford to contribute based on their likely health needs for the year, and how they want their money invested. Compare Health Insurance is now able to advise customers throughout the entire HSA process, including selecting a plan, getting it approved through medical underwriting and setting it up.
“Compare Health Insurance offers this new service, because we know how important a Health Savings Account can be,” said the company’s owner John Weiss. “Any unplanned injury or illness is bad enough, but at least with a well-funded HSA, the cost won’t be quite so devastating to an individual or family. Compare Health Insurance makes the HSA process easy and simple so individuals and families can rest easy knowing that they are actively saving for future medical expenses.”
Compare Health Insurance has been advising individuals and businesses on health insurance issues for over 20 years and offers customers several different HSA administrator options for pre-tax contributions. In addition, the company offers health insurance comparison services for individuals, small groups and large groups along with short term health insurance quotes and dental insurance quotes. To learn more about Compare Health Insurance’s HSA services, visit http://www.comparecarriers.net
Compare Health Insurance has been providing Californians with expert health insurance advice for over 20 years. The company offers its customers direct access to the state’s top insurance providers as well as competitive San Diego health insurance quotes for individual, small group and large group coverage.
The company serves San Diego and San Diego County and is proud to assists San Diegans in finding the best insurance coverage for their needs and budget. Whether an individual needs long term or short term coverage or can no longer afford COBRA or HIPPA coverage, Compare Health Insurance can help. Visit http://www.CompareCarriers.net to get a quote right away, or call (888) 504-6171 for personal guidance.
Compare Health Insurance doesn’t require any personal information to get started and will not contact website visitors unless specifically requested.