• Contributions are tax deductable
  
• Earnings on savings are tax deferred
  
• HSA proceeds used for qualified medical expenses are tax free
  

What is a Health Savings Account?
A Health Savings Account (HSA) is a tax favored savings account that is used in conjunction with a high deductible, HSA eligible health insurance plan. A high deductible plan is defined as a health plan with a minimum deductible of $1000 for individual coverage and $2000 for family coverage. These plans do not provide Doctor Office or Prescription Drug co-payments. Participants first enroll in a high deductible plan then open a special TAX DEDUCTIBLE Health Savings Account to cover current and future medical expenses. You are allowed to contribute up to $2600 for an individual, and $5150 for a family OR the amount of your deductible, whichever amount is less. Earnings on savings are TAX DEFERED. Monies deposited can be withdrawn to cover qualified medical expenses TAX FREE. Unused balances roll over year to year.

Which HSA plan is right for me?
UniCare offers 4 different HSA-compatible plans. At Reliable, we recommend the two plans that pay 100% of all eligible charges after the deductible has been satisfied. These two plans are identified as; HSA $2500 Single Party or HSA $4950 Multiparty and "HSA Compatible Plan 3" on our quote engine. It is our opinion that these two HSA plans offer the greatest value.

HSA $2500 Single Party or HSA $4950 Multiparty
THIS IS THE MOST POPULAR HSA PLAN WE SELL. The individual deductible is $2500, and the family deductible is $4950. After the deductible has been met, all eligible charges are paid 100% for the remainder of the calendar year. These limits are typically much less than the maximum out-of- pocket exposures found on most traditional low deductible plans - AT A FRACTION OF THE COST! Most low deductible plans only pay 80% after the deductible is met, until the claimant's 20% portion reaches $3000. A family's total out-of- pocket exposure for a traditional plan can easily exceed $10,000 annually, vs. only $4950 with this HSA plan.

HSA - Compatible Plan 3
This plan in most circumstances is the lowest priced Major Medical plan UniCare offers. Plan 3 has a $5000 individual deductible and a $10,000 family deductible. After the deductible has been met, all eligible charges are paid 100% for the remainder of the calendar year. While this plan will protect you from catastrophic losses in excess of the deductible, it is our experience that the out-of-pocket exposure is too high for the vast majority of our clients.