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Health Savings Accounts

Discover a new health insurance option! Combine a tax-favored Health Savings Account (HSA) and an HSA-eligible health insurance plan to save money tax-free for healthcare costs! Health Savings Accounts are great news for Americans!

The U.S. Congress recently passed legislation which makes paying for medical expenses much more affordable for consumers. As of January 1, 2004, the new law provides broad access to Health Savings Accounts, which allow consumers to pay for qualified medical expenses with pre-tax dollars (income-tax free!) and save for retirement on a tax-deferred basis.

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HSA-eligible health insurance plans are often less expensive than other health insurance plans. eHealthInsurance has collaborated with the nation's leading HSA administrators to bring you the highest quality HSA products available. Find the right plan for you and get free quotes from our selection of HSA-eligible plans and apply online.

An HSA is tax-favored savings account that is used in conjunction with a high-deductible HSA-eligible health insurance plan to make healthcare more affordable and to save for retirement. In order to have a Health Savings Account, you must get an HSA-eligible health insurance plan. This type of insurance plan is often referred to as a High Deductible Health Plan, and typically has lower premiums than plans with lower deductibles.

HSAs are similar to IRAs, but even better:

Pre-tax money is deposited each year into an HSA and can be easily withdrawn at any time with no penalty or taxes to pay for qualified medical expenses. Withdrawals can also be made for non-medical purposes, but will be taxed as normal income and are subject to a 10 percent penalty if done prior to age 65.

Any HSA funds not used each year remain in the account, and earn interest tax-free to supplement medical expenses at any time in the future.

Like an IRA, the account belongs to you, not your employer. But unlike an IRA, your employer CAN contribute to your HSA.

HSA-eligible health insurance plans are often less expensive than other health insurance plans.

Read more about Health Savings Account...

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Senate weighs plan for government health insurance (AP via Yahoo! News)Look out Aetna, Humana and UnitedHealthcare. Senators are meeting behind closed doors to consider whether the federal government should jump into the health insurance business.

Council launches push to get health insurance for workers at LAX (Los Angeles Times)The plan would increase the hourly wage under the L.A. living-wage ordinance for about 5,000 low-income employees. The Los Angeles City Council on Wednesday launched an effort to provide health insurance for about 5,000 low-income workers at Los Angeles International Airport by increasing the hourly wage required under the city's "living-wage" ordinance.

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Health insurance from Uncle Sam gets a look (The Washington Times)WASHINGTON (AP) -- Look out Aetna, Humana and UnitedHealthcare. Senators are meeting behind closed doors to consider whether the federal government should jump into the health insurance business. The government already covers medical care for seniors, disabled people, poor families and many children. But coverage in those programs is restricted to people who meet certain qualifications, ...

Health insurance from Uncle Sam gets a look (Aberdeen American News)WASHINGTON (AP) — Look out Aetna, Humana and UnitedHealthcare. Senators are meeting behind closed doors to consider whether the federal government should jump into the health insurance business....

Bill targets health insurance costs, small businesses (The Fort Collins Coloradoan)Small businesses would have access to more affordable health insurance for their employees under a bill recently introduced in the House and Senate with bipartisan support.

Documents say House Democrats weighing health insurance aid for families making up to $88,000 (Minneapolis-St. Paul Star Tribune)WASHINGTON - Documents say House Democrats weighing health insurance aid for families making up to $88,000. Comments are subject to the site's terms of use and do not necessarily reflect the opinion or approval of the Star Tribune.