Indiana Health Savings Accounts (HSAs) are offered from the majority of Indiana’s respected health insurance companies. As Indiana’s leading authoritative website for affordable Health Savings Accounts, we represent the major carriers such as UnitedHealthcare, Anthem Blue Cross, Medical Mutual, Humana, Assurant and Celtic. The HSA rates you view on this website are always the lowest published prices available. And HSAs are available in Indianapolis and every other city in the state.

What Is An Indiana Health Savings Account?

Indiana Health Savings Accounts are an affordable alternative to conventional health care.  It is a policy that allows consumers to pay for their health expenses and also save for future medical, dental and vision expenses in a tax-free account.  Funds remaining in the account at the end of the year continue to be invested and are not lost. At any time you can take these funds out of the account. You can also transfer your money to a different account.

Insurance premiums reduce, and the owner of the account becomes much more involved in their health care decisions. Once you have met your yearly deductible, qualified medical expenses are paid by the health insurer.  Before you enroll in an HSA, you must first be covered under a High Deductible Health Plan (HDHP).

What is an HDHP?

An HDHP is a catastrophic health plan that typically features a high deductible, often between $2,000 and $10,000. Medical expenses are usually covered between 80% and 100% after the deductible is met. Maximum out-of-pocket expenses are often less with an HSA because of the possibility of no coinsurance after the deductible. Preventive benefits are not subject to the major medical deductible and “Network negotiated discounts” will reduce your out-of-pocket costs. Sometimes these discounts can be as much as 70%-80% (often with lab tests and X-rays).

What are the tax benefits of an Indiana Health Savings Account?

Contributions to an HSA are deductible from your federal gross income (subject to IRS requirements). Interest on any earnings inside the HSA accumulate tax-deferred. Any withdraw for a “qualified medical expense” is not subject to federal income tax. A list of qualified medical expenses can be found here.

Can I have both an HSA and an IRA?

Yes. Owning both types of plans are allowed and also very popular. In fact we strongly encourage that you take advantage of both. Keep in mind that withdrawing funds from an HSA is much simpler than withdrawing funds from an IRA.

How Do I get an Indiana HSA quote?

Very easily! Simply provide your zip code in the “Get Free Quotes” box at the top of the page. You will then be able to compare your health care options. You can also speak to a live person by calling us at (888) 513 6446. We're Indiana's HSA experts!

Are dental and vision expenses considered “qualified” expenses?

If the IRS considers these expenses “deductible,” then they are “qualified.” Most health insurance carriers issue a debit card that you can use exclusively for your medical, dental and vision qualified expenses.The money you spend is clearly documented in a year-end statement. You can also view your account information online at any time.

Do The Recent Changes In Health Care Reform Affect HSAs?

The only recent change was to no longer allow over-the-counter medicines as a qualified expense. These costs are typically quite low so the impact is nominal. In the future, Indiana HSAs will continue to be a popular alternative to more expensive health insurance plans.

Who controls the money that is invested in a Health Savings Account?

You do! How the money is invested is your decision. HSAs utilize the same type of investments as IRAs. Stocks, bonds, mutual funds and certificate of deposits are the most common types of investments.