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Health Savings Account |
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What is an HSA? |
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Established by an eligible individual or by an employer for an eligible employee, an HSA is a custodial or trust account used for paying qualified medical expenses. HSA's combine a savings account with a high-deductible health plan, offering lower health insurance premiums with various tax advantages. |
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Plan Qualifications |
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Individual must be covered under a qualified high-deductible health plan, below Medicare eligibility age, and not covered under any other health plan. |
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Deductible Ranges for 2005 |
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- Min. = $1,000/single
- Min. = $2,000/family |
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Maximum Out-of-Pocket for 2005 |
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- Max. = $5,100/single
- Max. = $10,200/family |
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Contribution Levels for 2005 |
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Up to 100% of deductible with a maximum of:
- $2,650 for single coverage
- $5,250 for family coverage |
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BIA Insurance Services
5435 W. Freeland Rd.
Freeland, MI 48623
877-792-5800
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