LSM INSURANCE ASSOCIATES

If you are considering purchasing or have a High Deductible Health plan (HDHP) have we recommend that you set up an HSA at your earliest convenience.  It's important to spend a little time understanding how an HSA plan works as it is different than a traditional health plan.  Your HSA account can help you pay for out-of-pocket healthcare expenses, like copays and over-the-counter products that your HDHP health plan doesn't cover, plus you may spend less on monthly insurance premiums! 

HSA_Guide - An introduction to HSAs.pdf

2010 HSA Contribution Limits 

Individual HDHP coverage is $3,050, up $50 from 2009 

Family HDHP coverage is $6,150, up $200 from 2009

2010 Minimum Required Deductible for an HDHP

Individual Deductible is $1,200, up $50 from 2009

Family Deductible is $2,400, up $100 from 2009

2010 Maximim High Deductible Out of Pocket Expenses

Items such as deductibles, copayments, & coinsurance but not premiums

Individual HDHP out of pocket maximum is $5,950, up $150 from 2009

Family HDHP out of pocket maximum is $11,900, up $300 from 2009

To learn more about HSA go to http://www.irs.gov/