Health Savings Accounts (HSAs) are medical savings accounts available to taxpayers who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account aren’t subject to federal income tax at the time of deposit. Funds must be used to pay for qualified medical expenses and leftover funds roll over year to year if you don’t spend them, which means you don’t lose them if they are not spent.
Some insurance companies offer High Deductible Health Plans that are compatible with a Health Savings Account (HSA). These accounts are managed by the insurance companies and not by Access Health CT. However, HSA compatible plans are available through the Access Health CT Marketplace and are identified as such in the plan name.
For more information on types of plans available through Access Health CT, click here.