HSA for America Announces HSA Secure: A New Way to Save on Healthcare Costs

HSA for America launches HSA Secure, combining HSAs & health sharing to lower healthcare costs for individuals & families.

USA, June 27, 2024 /EINPresswire.com/ -- HSA for America, a leading advocate for health sharing ministries, announced the launch of HSA Secure today. HSA Secure combines the benefits of health savings accounts (HSAs) with health sharing.

HSA Secure allows self-employed individuals and small businesses to use pre-tax dollars to pay for qualified medical expenses through an HSA. The program also offers a variety of benefits, including:

- 100% coverage for preventive care services
- Sharing costs for medical bills
- The ability to choose your own doctor

“HSA Secure is a great option for people who are looking for a more affordable way to cover their healthcare costs,” said Wiley Long, President, HSA for America. “By combining HSAs with health sharing, we can help people save money on their medical bills and get the tax benefits of an HSA.”

More details about HSA Secure:
- The program includes an HSA-qualified MEC (minimum essential coverage) preventive care plan.
- Members can make tax-deductible contributions to their HSA every year.
- Unused HSA funds can be rolled over yearly and invested for future use.
- Members share medical costs with other members, saving money on monthly premiums.
- Large expenses, such as hospitalization, surgery, and specialists, are paid through a medical cost-sharing program.
- The cost of HSA Secure varies depending on age, but is typically half that of traditional health insurance.

Here are eight key benefits of utilizing HSA Secure:
- Tax-Deductible HSA Contributions: Money deposited in the HSA is tax-deductible, immediately reducing annual income tax payments.
- Tax-Deferred Growth: The money deposited in the HSA grows tax-deferred, including interest earned on the account balance, allowing for more efficient savings growth over time.
- Tax-free Withdrawals: Money withdrawn from the HSA to cover medical expenses is tax-free.
- Flexibility and Control: HSA Secure gives members greater control over their healthcare spending, allowing the funds to be used for various medical expenses, including those not covered by the health sharing plan.
- Cost Savings on Premiums: HSA Secure can significantly reduce overall healthcare costs, as health sharing plans typically have lower monthly premiums compared to traditional health insurance.
- Retirement Savings: After age 65, HSA funds can be used for non-medical expenses without penalty, though they will be taxed as ordinary income. This feature makes HSA Secure a useful tool for retirement planning.
- Enhanced Savings with Health Sharing: Health sharing plans like HSA Secure enable maximum savings by offering affordable plans. When combined with the tax advantages of an HSA, these plans provide an effective way to manage healthcare expenses efficiently.

To learn more about HSA Secure, please visit HSA Secure.

About HSA for America
HSA for America provides education and resources to help people learn more about affordable healthcare options and find the right plan for them.

They focus on two main areas: health insurance plans that work alongside Health Savings Accounts (HSAs) and alternative health sharing plans. By offering guidance through these options, HSA for America assists individuals, families, and even small businesses find cost-effective solutions for their healthcare needs.

Wiley P Long
HSA for America
+1 800-913-4509
email us here
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