High Deductible Health Plans (HDHP) and Health Savings Accounts in Raleigh allow for tax deductible deposits that cover vision, dental, prescription drug, and other medical costs. A Raleigh NC HSA may be beneficial for certain individuals who have high health care costs, as all money going to your account is taken out of your check before taxes. Enrollment in a Raleigh NC HSA requires you already be enrolled in an HDHP and you cannot be listed as a dependent on someone else’s taxes or be enrolled in Medicare.
The individual and group insurance experts at Independent Benefit Advisors can help you to determine if High Deductible Health Plans and Health Savings Accounts in Raleigh NC are right for you. By examining your current health care costs and anticipating future needs, our team can determine if a Raleigh NC HSA or HDHP is right for you or if other options like a Flexible Spending Account would better serve your needs. Contact IBA today for more information on qualifying conditions and to receive a free quote on Health Savings Accounts in Raleigh NC.
Since money contributed to your Raleigh NC HSA is taken out before taxes, the immediate short term savings will be obvious. In addition, Health Savings Accounts in Raleigh NC accrue interest that is also tax free and there are no penalties or fees for using your account for qualifying medical expenses. Unlike some forms of medical accounts, left over money rolls over year after year as well as the interest your account earns. High Deductible Health Plans and Health Savings Accounts in Raleigh NC can be used to pay for Lasik surgery, eyewear, contacts, braces, dentures, acupuncture, chiropractic needs, and other medical supplies and needs.
For more information on what a Health Savings Account will cover and the savings involved compared to a High Deductible Health Plan, Contact the Independent Benefit Advisors.