Oak Creek Insurance Agency

HSA

What is an HSA?
A HSA is a tax deductible savings account that is used in conjunction with a High Deductible Health Plan (HDHP). HDHP's are PPO plans with higher yearly deductibles that must be met before the insurance carrier covers medical expenses. This type of insurance plan is often less expensive than lower deductible PPO plans.

Contributions to an HSA may be made pre-tax and funds in the HSA may be used toward medical expenses, subject to your yearly deductible. Unused funds remain in the account and accumulate year-to-year tax-free.