Washington State Health Insurance – What Is An HSA?

Health Insurance can be a maddening subject to discuss as there are so many options out there to choose from!  Companies offer health insurance from many providers who also offer different types of services and policies.  Questions that usually get asked are:  How much will the deductible be?  What is actually covered under the policy?  Can I choose my own doctor?  Will pre-existing conditions be covered?  What is an HSA, and how will that help my situation?  This last question will be covered in detail below and is the main focus of discussion today.  Western Insurance Associates in Spokane WA offers many health insurance options and can consult with you on your insurance needs.


An HSA is better known as a Health Savings Account and this type of coverage can really benefit those who are in HDHP or High Deductible Health Plans.  There is a set amount to the HSA which has a yearly cap and this amount is taken out in monthly contributions to the account.  The big advantage of HSA’s are that the contributions are taken out pre-tax from your paycheck.  HSA’s can be rolled over from year-to-year for unused portions of the account.  

What Can An HSA Pay For?

The main goal of the HSA is to pay for medical expenses that are not covered under your regular insurance plan.  These expenses can be things such as eyeglasses, prescription drugs, dental items (dentures, water flossers, etc.), crutches, medical wraps, etc.  Another advantage to HSA’s is that the money in the HSA account can be invested into securities, stocks, and other investment vehicles to provide a higher rate of return over time.

More Information

You can learn more about health savings accounts by contacting Western Insurance Associates in Spokane, WA today!