Notice: Use of undefined constant the_page_title - assumed 'the_page_title' in /home/hteq29237496/public_html/healthinsurancebrokersdenver.com/wp-content/themes/yalin/page-rightsidebar.php on line 101
Denver Health Savings Accounts
Denver Health Savings Accounts – Qualified Health Plans
Denver Health Savings Accounts, also known as HSAs are personal accounts that allows the policy holder to pay for medical costs with dollars that are tax free. To be eligible for and take advantage of a Denver Health Savings Account, one must have an HAS-qualified high deductible health plan also known as HDHP. Next, you must make
tax-advantaged contributions. You must follow the US Treasury Department’s guidelines and Internal Revenue Service’s rules for HAS for qualification. There are minimum and maximum amounts for your deductible and limits to your out of pocket contributions.
Typically high deductible health plans (HDHP) often have lower monthly premiums than traditional co-pay insurance plans. Many policyholders use the money they save on monthly premiums and contribute to their health savings accounts. At that point, the policyholder can use these tax free dollars to pay for medical expenses.
If you are interested in lower premiums, tax benefits, or having personal control of your savings account for medical expenses, a Denver Health Savings Account with a HDHP may be right for your needs.
Benefits of Denver Health Savings Accounts (HAS)
Besides having a lower monthly premium, many HAS health plans waive deductibles for preventative care. Some qualified health plans cover well visits, immunizations, mammograms, etc. The money in your health savings account can be used to meet your yearly deductible.
Health savings accounts are available to anyone in Colorado, see if your qualify for a high deductible health plan by contacting our health insurance agency in Denver, Rocky Mountain Health Brokers. We offer free, confidential evaluations with our experienced Denver health broker, Eric Smith. Proudly serving Denver, Colorado and surrounding areas.
2010 Annual Contribution Levels for Health Savings Accounts*
- The maximum annual contribution for an individual with self-only coverage is $3,050.
- The maximum annual contribution for family coverage is $6,150.
- For individuals 55 or over, there is an additional “catch-up” contribution of $1,000 allowed.
*Health plan deductibles and Health Savings Account contribution maximums are subject to annual change by the U.S. Treasury.
Insurance quotes that are run on our quote engine for individual and family plans will include options for qualifying HSA-compatible health plans.
If you would like more information on health savings accounts, contact our experienced Denver health insurance agent, Eric Smith for a personalized consultation in Colorado.