CalCPA Health has provided quality healthcare and benefit plans to CalCPA member firms for over 60 years and one of our goals is to make choosing health and benefit plans easy for CalCPA members. CalCPA Health offers a variety of HSA plans as well as PPO and HMO plans. Over the past several years, enrollment in Health Savings Accounts continues to grow at a fast pace. Here are some reasons why:
- Lower monthly premiums
- Tax advantaged contributions
- Tax-free qualified medical expenses
- HSA funds roll over each year
- Keep your money even if you change jobs or insurance plans
- Tax-free interest earned
- Invesment options
- Integrated banking and health claims administration
With an HSA, it is key to take advantage of tax savings and build your dollars for the future. You can maximize your contributions as the IRS allows:
CalCPA Health’s HSA plans provide CalCPA members a unique program which offers High Deductible Healthcare Plans (HDHPs) combined with integrated banking and health claims administration through HealthEquity. The HSAs, when paired with a Health Savings Account offered through HealthEquity or a bank, brokerage or other financial institution, provides security against catastrophic medical expenses, while allowing you to set aside pre-tax dollars to pay for qualified medical expenses. With an HSA, you generally pay lower premiums today while able to build a a special savings account designed to pay for or reimburse you for current and future qualified medical expenses. It’s a win-win – save today and save for tomorrow.
Putting away pre-tax dollars into an HSA can help pay for qualified medical expenses that Medicare won’t cover as well as help with dental, hearing and vision expenses. Qualified medical expenses* remain tax-free, even into retirement. After age 65, you can use your HSA much like a 401(k) and withdraw funds for any purpose.
Who is eligible for an HSA?
You are covered by an HSA-qualified health plan and have no other health care coverage, such as Medicare, another health plan, military health coverage, or medical Flexible Savings Accounts. Another factor of eligibility is that you cannot be claimed as a dependent on another person’s tax return.
For additional assistance with HSAs
Education is important when it comes to switching over to an HSA. CalCPA Health is here to answer your questions. If you have questions about how HSAs work or if you would like to get a quote, please fill out the appropriate form to the right.
For more information on HSAs:
Have questions? Contact CalCPA Health at firstname.lastname@example.org or fill out the question form to the right.
*Note: Review IRS guidelines for qualified medical expenses allowed under IRS Code 502 and consult a tax advisor regarding specific state requirements.
Start Your Quote
After clicking “Get a Quote” you will leave the CalCPA Health site and enter Banyan Administrator’s quoting portal. (Note, Banyan Administrators are managers of the CalCPA Health programs).