Markel Insurance Services
Dedicated to help every Georgia family obtain Affordable Health Insurance
Call Us Today!
678-804-7772

Company Info

Markel Insurance Services
1400 Buford Hwy., Ste. G-2
Sugar Hill, GA, 30518

Phone:
678-804-7772

Fax:
678-804-6082

License:
GA: 528264

Insurance Brokers:
Steven Markel

What is a Health Savings Account (HSA)?

HSA Plans have two parts: a lower cost, high deductible health insurance plan and a tax-favored health savings account. The insurance plan protects you from large medical expenses. Once your deductible is met, the insurance plan starts to pay for covered expenses.

A Health Savings Account, or HSA, is a unique, tax-advantaged account that can be used to pay for current or future healthcare expenses. When combined with a high-deductible health plan, it offers savings and tax advantages that a traditional health plan can't duplicate. With an HSA, members will have:

  • A tax-advantaged savings account that they can use to pay for eligible medical expenses as well as deductibles, co-insurance, prescriptions, vision expenses, and dental care. and these contributions are 100% tax deductible from gross income.
  • Unused funds that will roll over year to year. There's no "use it or lose it" penalty.
  • Additional retirement savings. After age 65, funds can be withdrawn for any purpose without penalty, but may be subject to income tax if not used for IRS-qualified medical expenses.

An HSA is your account. Your money rolls over every year. There is no "use it or lose it" requirement.

2018 HSA Contribution Limits

  2015 2016 2017 2018
Self-Only HSA Contribution Limit $3,350 $3,350 $3,400 $3,450
Family HSA Contribution Limit $6,650 $6,750 $6,750 $6,900
55+ Additional Contribution Limit +$1,000 +$1,000 +$1,000 +$1,000

 

Health Savings Account Plan Comparison

For more detailed information on HSAs, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.

US Treasury Department on HSA

 

 




Run A Quote

Markel Insurance Services - 1400 Buford Hwy., Ste. G-2 Sugar Hill, GA 30518
Powered by Genuine Quotit Technology © Copyright 2017 All Rights Reserved.

Read Unbiased Consumer Reviews Online at AngiesList.com
angieslist.com/review/8142984