What is a HSA plan?

The HSA (Health Savings Account) plans are for individuals or families with minimal health expenditures on an annual basis. Tax deferred dollars are deposited into an account, which accumulates interest. All medical costs are deducted from this account and, if you reach your deductible in a calendar year, all medical costs are paid by the insurance company 100% for the remainder of that calendar year. You are responsible for all doctor visits, prescriptions, ER, and major medical until the deductible is met. However, if you don�t use the money, it continues to accumulate interest…it�s your money. Unlike other plans out there, the American Community HSA plan waives the deductible for 30 days following an injury or accident. Therefore, if you're involved in something like an automobile accident, you have no out-of-pocket costs for 30 days. Most HSA's don't have this benefit. With a HSA you can choose your own doctors, but you'll save money if you use a provider in participating networks.