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HSAs

It’s All About Options

Whether you’re looking for individual coverage or trying to decide which type of plan to choose for your employees, Phelan Insurance Agency can help you find a Health Insurance solution that meets the needs of everyone.

Health Savings Accounts (HSAs) are a newer alternative to Health Insurance and are meant for those who are insured under high-deductible Health Insurance plans. These plans allow individuals to set aside money into a savings account that they can use over time for medical expenses that are not covered under their high-deductible plan. With a standard HSA, you can do the following.

  1. Put money into your HSA (tax free)
  2. Watch your money grow (tax free)
  3. Take out money if needed for qualified medical expenses, including dental and vision (also tax free)

Advantages of HSAs

With a Health Savings Account, you get to control the amount of money that you wish to set aside for medical expenses. All deposits, growth, and withdrawals are all tax-free for your convenience, and most important, your money rolls over each year. Unlike flexible spending accounts, you don’t lose money when your policy renews. Whatever you put into your HSA keeps growing, tax-free.

Although there are limits to the amount of money in which you can deposit to your Health Savings Account each year, as well as qualifications, it’s a great way to help you have a lower premium, supply you with medical coverage if necessary, and help you save for your future medical needs.

Contact an insurance specialist at Phelan Insurance Agency today to learn more about how an HSA can benefit you.

Our Locations

Versailles Office

863 E. Main Street
Versailles, OH 45380
Main office: 937-526-3111
Toll free: 800-843-3069
Fax: 937-526-5178

West Chester Office

8763 Union Centre Blvd
West Chester, OH 45069
Main office: 513-762-1678
Toll free: 800-843-3069
Fax: 937-526-5178

Our Providers

Testimonials

Been with Phelans for a couple of years. Great coverage on my car and home insurance, reasonable rates, and you can actually talk to your agent on the phone!

Jane B.
Good insurance, Good people, Nice price

Douglas L.
"I wish all insurance agencies were as nearly responsive as you are. Thank you!"

Leasing Company
Thank you again for all of the hard work and planning you did for our company meetings. I think the personalized folders were wonderful and much appreciated. I can’t thank you enough for all of the hard work you do!

Kelly D.
Literally within 25 minutes I received my document! Now that is service!

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