06/02/2026
Educational moment from your favorite health insurance agency š
Letās talk about HSAs (Health Savings Accounts)āespecially since theyāre being highlighted right now as a smart way to help lower health insurance costs š
1ļøā£ What is an HSA?
An HSA is a savings account for medical expenses. The best part? Your money goes in tax-free, grows tax-free, and can be used tax-free for qualified healthcare costs.
2ļøā£ Who can get an HSA?
Youāre eligible if you have a high-deductible health plan (HDHP), arenāt enrolled in Medicare, and arenāt claimed as a dependent on someone elseās taxes.
3ļøā£ How do you get one?
You can open an HSA through a bank or financial institution. Once itās set up, you can start contributing and using the funds for eligible healthcare costs.
4ļøā£ Why HSAs can help lower costs:
⢠Consumer-driven spending: Using your own pre-tax money encourages comparing prices and finding high-quality, lower-cost care.
⢠Reduced overuse: People with HSAs tend to use less unnecessary care while still getting the care they need, helping reduce wasteful spending.
5ļøā£ What can you pay for with an HSA?
Swipe your HSA card for doctor visits, lab fees, dental braces, eyeglasses, prescriptions, pregnancy tests, and much more! (Fun fact: you can also use your HSA for your spouse and childrenās eligible expenses!)