Health insurance plans can be complicated—but your options for managing healthcare costs don’t have to be. One of the most flexible and tax-advantaged tools available today is the Health Savings Account (HSA). Whether you’re a small business owner looking to offer better employee benefits or an individual trying to make the most of your coverage, an HSA might be the right fit.

Let’s break it down in plain English.

So, What Is an HSA?

A Health Savings Account is a personal savings account designed to help you pay for qualified medical expenses—tax-free. It’s available to individuals who are enrolled in a High Deductible Health Plan (HDHP) and offers three major tax advantages:

1. Contributions are tax-deductible.

2. Earnings grow tax-free.

3. Withdrawals for qualified medical expenses are also tax-free.

Think of it like a personal healthcare fund you can grow over time. The money in your HSA is yours to keep, even if you change jobs or retire. And unlike Flexible Spending Accounts (FSAs), unused funds roll over year to year.

Is It the Right Plan for You?

It depends on your healthcare needs, financial situation, and long-term goals. Here are a few questions to consider:

• Do you have relatively low medical expenses and want to save for future costs?
  An HSA can be a smart way to save money now and build a cushion for later—especially for young, healthy individuals or families.

• Do you like having control over how you spend your healthcare dollars?
  HSAs give you flexibility to choose where and when to spend on care, from prescriptions to dental and vision.

• Are you looking for another way to invest tax-free for retirement?
  After age 65, HSA funds can be withdrawn for any reason without penalty (you’ll just pay regular income tax if not used for medical costs).

• Are you enrolled—or willing to enroll—in a High Deductible Health Plan (HDHP)?
  HSAs are only available if your health insurance meets the HDHP requirements. The higher deductible means you’ll pay more out of pocket before insurance kicks in, but premiums are usually lower.

How Haughn Insurance Can Help?

At Haughn Insurance, we don’t just sell insurance—we help you make confident decisions about your health and your future.

If you’re an individual, we’ll walk you through the pros and cons of an HSA based on your current plan and expected medical needs. If you’re a business owner, we can help you design an employee benefits package that includes HSAs, giving your team access to a tool that supports both wellness and financial health.

We’ll explain the fine print, help you compare plans, and make sure your HSA strategy aligns with your goals.

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Not sure if an HSA is right for you or your team? Let’s talk.
We’re based in Dublin, Ohio, but we serve clients across the country with the same hometown service and straightforward advice we’re known for.

Call us at (614) 789-6600
Email info@haughn.com
Visit haughn.com