Health Savings Accounts HSA 2013 Limits – a way to find affordable health insurance in Santa Monica by Barbara Kempen | Nov 29, 2012 | Affordable Health Insurance, Health Insurance Brentwood, Health Insurance Pacific Palisades, Health Insurance Santa Monica, Uncategorized Health Savings Accounts HSA are a good alternative to find affordable health insurance in Santa Monica, Brentwood and the rest of California. HSA’s work with high-deductible health plans that can reduce your monthly insurance costs. The money you save can be deposited into an HSA and used for qualified medical expenses, these savings grow tax deferred and compound interest year-after year, making it easier to save for retirement. The money you contribute to your HSA is rolled over every year to give you a substantial source of retirment income. HSA contributions are tax-deductible and earn interest and tax-deferred, you choose how you want to invest it and all the interest and investments earnings also grow taxdeferred. Money can be withdrawn from your HSA savings tax-deferred anytime you need to pay for qualified medical expenses, most of which aren’t even covered under traditional health plans. Your pre-tax HSA money can be used to pay for most medical expenses but also expenses such as weight loss programs, over-the counter medications, acupunture , eyeglasses, dental expenses and even most long-term care insurance premiums. Below is a list of the new HSA/HDHP 2013 Limits HDPH Minimum Deductible Amount 2012 2013 Individual $ 1200 $ 1250 Family $ 2400 $ 2500 HDHP Maximum Out-of-Pocket Maximum Amount Individual $ 6050 $ 6250 Family $ 12100 $ 12,500 HSA Statutory Contribution Amount Individual $ 3100 $3250 Family $ 6250 $ 6450 Catuch – up Contributions age 55 or older $ 1000 $ 1000 Let us help you to find an affordable health insurance plan and explain you the high deductible health plans with HSA for you and your family in Santa Monica and Brentwood.