Health Savings Accounts
benefit small business by
creating a health care
environment where
employers, employees, and
medical professionals all
have a stake in keeping
costs lower.
Click on the menu to
the right to review
New York health
savings account
insurance coverage
information in more
detail.
Health Savings Accounts
are designed to make
health insurance more
affordable by combining a
tax free savings account
with a high deductible
health insurance plan. It
allows for "before tax
contributions" from
employers and employees
into a savings account that
can be used for medical
expenses. The contributions
cover first-dollar medical
costs until a health
insurance plan deductible is
met. High deductible health
insurance has lower
premiums that are more
affordable for employers
and employees.
Employers can fund a
Health Savings Account
with an amount equal to the
employees deductible or
split the cost with the
employee, and the money
can be used to pay health
care expenses. If the
money is not needed, the
money can be invested.
Withdrawals can also be
made for non-medical
purposes, but will be taxed
as normal income and are
subject to a 10% penalty if
done prior to age 65.
To be eligible for a Health
Savings Account, an
employee must purchase a
health insurance plan with
annual deductibles of at
least $1,300 for one person.
Also, the sum of the annual
deductible and the other
annual out of pocket
expenses required to be
paid under the plan (other
than premiums) can not
exceed $6,550 for one
person in 2017.
914-276-6000
800-498-1819
Click on the link below to
fill out a New York Health
Savings Account quote form.
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Direct Access Group Benefits, Inc.
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(914) 276-6000
(800) 498-1819 toll free
(914) 401-9319 fax

189 Route 100
PO Box 590
Somers, New York 10589
Westchester County, NY
Group Benefits
Direct Access
Westchester County New York Insurance Agency