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Archive for January, 2010

Ohio Health Savings Accounts (HSA) 2010 Contribution Limits

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Ohio Health Savings Accounts have a new contribution limit for 2010. The annual contribution limits have been increased to $3,050 for individual HSA coverage and $6,150 for family  coverage. The 2010 minimum annual deductible is $1,200 for individual HSA coverage and $2,500 for family  coverage.

 

 

 

Guidelines and Changes from 2009 to 2010

Type of Coverage

Rule

2009

2010

Individual

Maximum contribution

$3000

$3050

 

Minimum deductible

$1150

$1200

 

Out-of-Packet maximum

$5800

$5950

Family

Maximum contribution

$5950

$6150

 

Minimum deductible

$2300

$2400

 

Out-of-Pocket Maximum

$11,600

$11,900

 

 

A Health Savings Account (HSA) is an affordable alternative to traditional health insurance that offers Ohio residents an alternative method to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical expenses on a tax-free basis. Most major Ohio health insurance companies offer them. The most competitive rates are offered by Anthem Blue Cross, Medical Mutual, Aetna, UnitedHealthOne and Humana.

You must be covered under a High Deductible Health Plan (HDHP) to qualify to make a contribution. An HDHP is an inexpensive health insurance policy that costs substantially less than a traditional Ohio health insurance plan, and offers you the opportunity to deposit the money you save into the HSA.

As Ohio’s premier trusted resource for affordable  coverage, we research all of the major health insurance companies. Only the highest-quality plans are considered with most offering preventive coverage that is not subject to a deductible. The quoted rates are the lowest allowable by the state, since premiums are mandated. That ultimately protects the consumer.

To instantly view, compare or apply for an Ohio HSA, please click on the “Get Instant Quote” button at the top of this page. Your personal information is never shared with any other person or company.