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Why pay more to a health insurance company then what you already have to? If your health insurance plan meets the approved IRS deductible requirement of at least $1,300 for individual and $2,600 for family you qualify to open a tax-deductible health savings account, with a $0 opening account balance.
The purpose of a tax-deductible health savings account is to retain and manage higher cost for medical services, may reduce your adjusted gross income on your Federal Tax Return. Getting the most out of your health savings account
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Transportation Savings
Your health savings account can also pay for transportation that is required for you to obtain medical services. You would be eligible for $250/month in parking fees and $130/month for Public Transit.
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2016 IRS LimitsHealth Insurance Deductible
$1,300 Individual and $2,600 Family Maximum Contribution Limits $3,350 Individual and $6,750 Family Maximum Out of Pocket $6,550 Individual and $13,100 Family |
Catch Up
Health insurance policy holders age 55+ can contribute an additional $1,000 per year
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