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Leland T. Proshek

7952 Secor Rd.
Lambertville, MI. 48144
(734) 847-6777
  Health Savings Accounts

Open a H.S.A. here!
Health Savings Accounts are a great way to save money on income taxes while preparing for future health care costs. You must have a qualifying high-deductible health plan before opening your H.S.A. account. Please call us for details.

What is a Health Savings Account?

A Health Savings Account is a government-approved savings account used to pay for current or future medical expenses. It is designed to be coupled with a High Deductible Health Plan to cover small and routine medical expenses until the deductible is met.

This two-part plan is a great way to get the coverage you need, without paying the insurance company for benefits you may not use.

Plus, paying for medical expenses tax free can dramatically reduce your total costs.

What are the benefits of a Health Savings Account?
. Tax-free interest and other earnings on the assets in the account.
. Contributions made to the account are tax-deductible.
. Distributions may be tax-free if for qualified medical expenses.
. Contributions remain in the account from year to year until you use them.
. "Portability" allows you to keep the account even if you change employers or leave the work force.

Qualifying for a Health Savings Account
To be eligible for a Health Savings Account, you (or your spouse) must have a High Deductible Health Plan. That means your health plan must have a higher annual deductible than typical health plans, and that a maximum limit on the sum of the deductible and the annual out-of-pocket medical expenses you must pay for covered expenses.

You must meet certain I.R.S. requirements to qualify for a tax-deductible Health Savings Account. However, no permission or authorization from the I.R.S. is needed. We at Chart Advisors would be happy to discuss your eligibility.

Call our office in Lambertville at 734-847-6777 to speak with us personally about setting up your Health Saving Account.

Open a H.S.A. here!

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