What I’m talking about are Health Savings Accounts (HSA’s). This Tax Deduction allows you to use healthcare services TAX FREE and is a great way to save a lot of money! ADVANTAGE: Tax Deduction (similar to an IRA, but better. You can use the money immediately) For example, if your family income is $76,000 and you put $6,000 into an HSA checking account (this money can ONLY be used for medical expenses). Then your Taxable Income would be $70,000. If you are in the 25% Tax Bracket this is a REAL Savings of $1,500. Lets say a $4,000 medical emergency just pops up and you have NOT funded your HSA checking account for the year…yet. So you simply put $4,000 into the account when paying the medical bill and you INSTANTLY get a $1,000 Tax Deduction (if your in the 25% tax bracket). It’s magic! The family MAX out of pocket is lower for HSA plans, which means they are significantly better if you have a large medical expense. HSA Plan = $9,500 MAX out of pocket per FAMILY Regular Plan = $10,000 MAX out of pocket per PERSON If something major happens to more than one person, a HSA plan saves you a lot of money! 
DISAVANTAGE: No Doctors visits are covered on HSA Plans, but if you save $1,500 dollars, that money can be used for doctor’s visits [$150/visit X 10 Visits = $1,500] “Regular” Individual Health Insurance plans they typically give 3, 4 or 6 visits per year to the doctor with a $25 to $50 co-pay per visit. HSA’s are typically a better value than Regular Plans. However the decision is really up to you. The following is needed for a side by side Health Insurance Quote:
- Age
- Tobacco/Non-Tobacco
NOTE: It’s the same cost if you get health insurance yourself or work with an agent…so it’s FREE to work with me (the carriers pay me out of their profits). Below are my areas of expertise:
- Health Insurance (Every company in Washington State)
- Life Insurance (33 companies)
- Investments (Alternatives to the Stock Market)
- Tax Sheltered Accounts (Following IRS guidelines)
Gary Franke, MBA
Independent Broker
Achieve Alpha Insurance
(425) 802-2783
gary@achieve-alpha.com
www.achieve-alpha.com