Texas Health Insurance

HSA stands for “health savings account.” A health savings account is a tax exempt trust or custodial account that is created for the purpose of paying medical expenses for beneficiaries. An HAS allows you to pay for current and future eligible medical, dental and vision expenses.

The money you add to your HSA is federally tax deductible, whether you itemize deductions or not. You own and control the funds in your HAS and these funds can be conveniently accessed by a debit card to pay medical expenses. The difference between an HSA and an IRA is that HSA’s are specifically devoted to medical expenses.

If you have any questions about HSA’s or Texas Health Insurance please contact Option 1 by visiting www.texashealthinsuranceoptions.com