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Your Internet Resource for HSA Information
HSA
the IRA of Healthcare!
There are two basic components
that make up an HSA.
- High-Deductible Health Plan (HDHP) -
To qualify for an HSA, you must be covered under a qualified HDHP.
Such a policy provides basic health care benefits and offers premiums
that are lower than traditional insurance policies. The chart
below shows what qualifies as a High-Deductible Health Plan.
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HSA Deductible
Ranges For 2008
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Minimum
Deductible
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Maximum
Out-of-Pocket
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Individual
Coverage |
$1,100
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$5,600
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Family
Coverage |
$2,200
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$11,200
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HSA Deductible
Ranges For 2007
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Minimum
Deductible
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Maximum
Out-of-Pocket
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Individual
Coverage |
$1,100
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$5,500
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Family
Coverage |
$2,200
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$11,000
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HSA Deductible
Ranges For 2006
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Minimum
Deductible
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Maximum
Out-of-Pocket
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Individual
Coverage |
$1,050
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$5,250
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Family
Coverage |
$2,100
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$10,500
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HSA Deductible
Ranges For 2005
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Minimum
Deductible
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Maximum
Out-of-Pocket
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Individual
Coverage |
$1,000
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$5,100
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Family
Coverage |
$2,000
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$10,200
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HSA Deductible Ranges For 2004 |
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Minimum
Deductible |
Maximum
Out-of-Pocket |
Individual
Coverage |
$1,000 |
$5,000 |
Family
Coverage |
$2,000 |
$10,000 |
- Savings Account - A Health Savings Account
is a tax-exempt fund in which you accumulate savings to pay for
future medical expenses. Contributions are tax deductible, and
income earned on funds in the HSA grow tax-deferred. You can use
the funds in the account for qualified medical expenses until
the deductible has been met; at that point, your insurance coverage
begins. You can also use the funds for dental, vision, and other
services that may not be covered under the high-deductible health
insurance policy.
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