Over three million Americans have already switched to Health Savings Account (HSA) based health coverage.  With HSA plans, you receive quality care while building equity through a tax-advantaged savings account.

Most importantly with a Chelsea Groton HSA, you have 24/7 customer service. Through our partnership with Health Equity, there are real people available to talk to you at any time.

How do they work?

There are two components required for you to create an HSA-based health coverage plan, an HSA and a qualified high deductible health plan (HDHP).  The HSA is a tax-advantaged account used to pay medical expenses funded by tax-advantaged contributions from you or your employer.  The HDHP is the insurance component of the plan.  It will provide medical coverage for you and your family in case of emergency, major illness, or a high yearly health care cost.

Will this increase my out-of-pocket expenses?

Many people worry that switching to an HSA-based plan may end up costing them more money in the long run because they will be responsible for paying the entire cost of medical expenses out of their HSA until they meet their deductible. The truth is the vast majority of people who switch to HSAs save money, no matter what their medical expenses are. If you do not meet your deductible, any money left in your account is yours to keep at the end of the year. It's your money. It remains in the account to fund future medical expenses or act as a retirement nest egg.

Contact Peg McMahon at 823-4872 to learn how she can help you set up your HSA today!