Finance / Health & Wellness

Health Savings Accounts

Health Savings Accounts (HSAs) were passed into law in 2003 and became effective January 1, 2004.  They were created with the intent to give you more control over your own healthcare decisions and lower your overall cost – without compromising quality and choice.

Simply put, an HSA is a tax-favored savings account designed to pay (or save for) medical and preventive expenses with tax free dollars.  Plus HSAs can provide an additional tax-deferred retirement account with the option of investment opportunities.  As such, it is commonly referred to as a medical IRA (without many of the restrictions and penalties).

To qualify for an HSA, you must have a High Deductible Health Plan (HDHP).  HDHPs offer a more affordable approach to health insurance while maintaining the protection and security in the event of a catastrophic illness or injury.  In short, you use tax-free funds from your HSA to cover medical and preventive expenses until your deductible is met.  Once your deductible is met, your insurance kicks in and pays according to your plan design.

  • Lower Premiums by 25% to 50% or More
  • Pay Healthcare with Tax Free Dollars
  • Reduce Your Taxes
  • Build an Additional Retirement Fund


The concept is simple:  Lower your premiums; bank the money you save into a privately owned, interest bearing HSA; pay for medical, preventive, and alternative healthcare with tax free dollars; and lower your taxable income while saving for your retirement.  In essence, this strategy allows you to choose your healthcare, pay yourself, and protect your assets by paying less to the insurance companies and the IRS.


As a national independent H.S.A. administrator, American Health Value can work with your agent (or help you find one) to ensure that you find the HDHP in your state that offers the best plan design for you at the lowest possible cost.

For further information please contact American Health Value at 1-800-914-3248, or visit www.

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10 years ago

My employer’s high deductible health plan forces you to have an HSA even if you do not want one. The HSA’s have fees for monthly maintenance, closing the account, for insuffient funds, etc. If someone wants an HSA, that’s fine. I don’t think I should be forced to have one and then be forced to pay fees on top of it.
The other plan offered, which does not force the HSA, is very expensive. The other option is to just not have insurance.

11 years ago

Not for $35/year

11 years ago

This is my first year with an HSA, a couple of things have surprised me. I was shocked to see how expensive health care was, somehow when I was paying the bill I was much more aware of costs.
I have felt like I have more control, and have actually put some things off to maxamize my deductable. In our plan it has taken me awhile to get a paper management/bookkeeping system fine tuned, but after some initial frustration I think I have it down. Be aware there is some paperwork you, not your insurance company, will do, and depending on your health, it might be considerable. Maybe an “expert” could give us some tips in a future AMAC newsletter.

12 years ago

Need info about this ins.

12 years ago

The federal government has NO role in health care – NONE!!! HSA’s are government privileged accounts. Get government out of health care and the system will take care of itself in the free market.

12 years ago

I am geting an HSA set up immediatelly, and I will fight to keep my right to own my own healthcare plan. God willing, Obamacare will be overturned once more people get tired of socialism and decide to send this idea back to Venezuela and Greece.

12 years ago

HSA under new healthcare bill will be subject to the 3.8 tax. Bad, Bad and more Bad idea.

12 years ago

I think you can keep what you’ve already put into a HSA under Obamacare, but you will not be able to add as much after September of this year. In a couple of years, you will not be able to add to the account.

12 years ago

I have an HSA account and do not want to see it taken away. I want to be in charge of my health care dollars.

12 years ago

Yes this is a wonderful plan.
That is why the NEW Obamacare Bill made these plans illegal along with Medicare Advantage. It’s all about the Tax $$$ for our Government that has become “We the Government” no longer “We the People”!!!!

Ray Kepner
12 years ago

Do you offer a dental insurance program?

Oh Gee
12 years ago

Health Savings Accounts (HSA’s) sound like a good deal for many people. Why does the Obama administration not push them?
Could it be because they really want to control everything and have the Government in charge?

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