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:
Contact CalCPA Health with your questions, firstname.lastname@example.org
Note: Review IRS guidelines for qualified medical expenses allowed under IRS Code 502 and consult a tax advisor regarding specific state requirements.