Health Savings Accounts (HSAs) are tax-exempt accounts established for paying qualified medical expenses. HSAs are designed to help individuals save for qualified medical and retiree health care expenses on a tax-free basis.

For 2008, qualified High Deductible Health Plans (HDHPs) must have a minimum deductible of $1,100 for single coverage with the annual out-of-pocket maximum not exceeding $5,500. The deductible for family coverage is $2,200 and the annual out-of-pocket maximum may not exceed $11,000. For family coverage, the entire family deductible must be met before Unity will make a payment toward covered services.

These dollar amounts are indexed annually for inflation.You must have a HDHP in order to open and deposit funds in a HSA. Unity's qualifying plans include the group and individual HMO plan, and group PPO and POS plans.

HSA Benefits for Employers

• Employer deposits are not subject to withholding from wages for income tax or subject to FICA, FUTA, or the Railroad Tax Act
• Premium savings
• No employer oversight or administration required for the HSA

HSA Benefits for Members

• Deposits are either pre-tax or tax deductible
• Deposits can be invested, and interest earned is tax deferred
• HSAs are portable and owned by you; deposits cannot be taken away
• Unspent balances carry over and can accumulate over a lifetime to be used at retirement to pay for uncovered medical expenses
• HSAs may be passed on to spousal beneficiaries tax-free if the account holder should pass away

HSA Trustee Information

Unity Health Insurance, in partnership with HSA Bank, is pleased to offer members Health Savings Accounts (HSAs).  HSA Bank is a national leader in HSAs, serving accountholders in all 50 states.

HSA Bank
605 N. 8th Street, Suite 320
Sheboygan, WI  53081
1-866-471-5942
www.hsabank.com

If you prefer, you may set-up your HSA with another qualified HSA trustee.

Additional Information

• HSA Prescription Drug Benefit [PDF]