I believe strongly in Health Savings Accounts known as an HSA and the benefits they can provide to individuals and families.

What is an HSA? They work in combination with an HSA-compatible health plan. They allow you to contribute funds on a pre-tax or tax-deductible basis, which you may use to pay eligible medical expenses.

What are the advantages?

  1. Funds Rollover Annually. If you don’t use it, save it for next year.
  2. They provide you a triple tax savings: tax deductions when you contribute to your account; tax-free earnings through investment; and, tax free withdrawals for qualified medical expenses.
  3. You own the account. Even if your HSA-compatible coverage ends, you can still use your funds tax-free for eligible medical expenses.
  4. You can invest your dollars through investment partners, who offer stocks, bonds and mutual funds.
  5. You’re in charge. You choose when to use your funds or pay out-of-pocket.

Eligible Medical Expenses is described in IRS publication 502. It is an expense that pays for healthcare services, equipment or medications. In general your funds can be used for:

  1. Expenses applied to your health plan deductible
  2. Dental care services
  3. Vision care services
  4. Prescription drugs and medicines
  5. Certain medical equipment.

Christopher Ruhm Insurance has partnered with HSA Bank online to offer enrollment for individuals and groups. By clicking on the HSA Bank link below you can educate yourself on the many benefits. In addition, your personal bank likely offers the option so you can compare rates and cost. I do not offer tax advice and recommend you call your accountant for additional info on the tax advantages.


If you’re a individual and ready to enroll click here.

If you’re a group or business and ready to enroll click here.