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Copyright | Northwest General Insurance and Financial Services

WE ARE CERTIFIED TO HELP SMALL BUSINESSES AND INDIVIDUALS ENROLL IN THE EXCHANGE

NPR # 1204112; License # 812481

HSA's and HRA's -  GROUP INSURANCE

If you have any questions or need additional assistance

PLEASE CALL 713-957-8100 or submit a help request.  

A Health Savings Account (HSA) combines high deductible/lower premium health insurance with a tax favored savings account set up to help employees manage the increase in out-of-pocket healthcare expenses usually associated with a high deductible plan. Both employer and employee can contribute, tax-free, to the savings account.  Money in the savings account can help pay the deductible and other qualified medical expenses, tax free. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest, tax free and is the employees to keep forever, even they change jobs or medical plans.

 

A Health Reimbursement Account (HRA) combines high deductible/low premium health insurance with a tax favored savings account funded solely by the employer. The account is set up to help employees manage the increase in out-of-pocket healthcare expenses usually associated with a high deductible plan.  Money in the savings account can help pay for co-pays and other qualified expenses prior to the deductible being met. Money left in the savings account earns interest and can be carried to the next year.

 

 

 

 

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