No. Funds in a Health Savings Account are held in a trust and are administered by a bank,
insurance company, or other approved Trustee. You decide how your contributions are
invested in a Health Savings Account. Usually you will have the options listed below available.
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San Antonio, Texas Health Savings Account
**The information, pictures, and other content in this website about particular insurance services is
only provided for informational purposes. Any decisions regarding your insurance needs should be
discussed with a licensed insurance agent.
The Health Savings Account replaced Medical Savings
Accounts on January 1, 2004. All Americans under the age of
65, regardless of their employment status, now qualify for a
Health Savings Account Insurance.
To be eligible for a Health Savings Account, you must purchase
a health insurance plan with annual deductibles of at least
$1,100 for a single person or $2,200 for a family. Also, the sum
of the annual deductible and the other annual out-of-pocket
expenses required to be paid under the plan (other than
premiums) can not exceed $5,500 for individuals and $11,000
for families. These are 2007 guidelines.
You, or your employer, can fund a Health Savings Account
with an amount equal to the deductible and the money can be
used to pay health care expenses. If the money is not needed,
the money can be invested. All money going in a Health
Savings Account is pre-tax dollars and withdrawals for health
care, including dental services, are tax-free. Withdrawals can
also be made for non-medical purposes, but will be taxed as
normal income and are subject to a 10% penalty if done prior to
age 65.
You can contribute up to the annual deductible amount on your health
insurance plan each year, but the amount can't exceed $2,850 for an
individual or $5,650 for a family. These maximum amounts are for
2007 and will be adjusted each year.
If you are between the ages of 55 and 65, you can make an additional
annual "catch up" contribution, too.
A Texas Health Savings Account can be used to pay for many types of medical expenses,
even some that are often excluded on health insurance plans. These include the following:
Health insurance plan deductibles, co-payments, and coinsurance
Prescription and over-the-counter drugs
Dental Services: including braces, bridges, and crowns
Vision Care: including glasses and lasik eye surgery
Psychiatric and certain psychological treatments
Long term care services
Medically related transportation and lodging
Under most circumstances, Health Savings Accounts can't be used to pay health
insurance premiums. However, some exceptions are listed below. **

Health insurance premiums if you are receiving federal or state unemployment
benefits
Premiums for COBRA qualified health insurance
Long term care insurance premiums
Premiums for a health plan (other than a Medicare supplemental policy) for an
individual age 65 or older
**You must establish a Health Savings Account before incurring any medical expenses
or the expenses will not qualify.
You will be sent at the end of each year a statement showing the amount you contributed
to your Health Savings Account during that year. As long as the amount contributed is less
than or equal to the maximum allowable contribution, that amount is an "above the line"
deduction and can be taken even if you do not itemize.

If you are self-employed, in addition to deducting your Health Savings Account
contributions, you may also be able to deduct 100% of your health insurance premiums.
You must meet the criteria listed below.
1. You are not eligible to participate in a subsidized health plan offered by an employer or
your spouse's employer.
2. The deduction does exceed the amount of net income from your business.
Most Health Savings Accounts will provide you with a checkbook or debit card to pay
for qualified medical expenses.
1. You don't need to get approval from the Health Savings Account administrator
when you use funds in your account.
2. You don't need to submit receipts to the Health Savings Account administrator,
though you will need to maintain the receipts for filling out your income taxes properly.
Interest-Bearing Account
CD's
Money Market Funds
Mutual Funds
Click on the link below to fill out a secure quote request form for
a San Antonio, TX area Health Savings Account that offers
significant tax free benefits for qualified medical expenses. An
insurance agent in the San Antonio area will contact you.
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Local San Antonio, TX area insurance agents offering Texas health savings accounts in the
following cities and counties: Universal City, Windcrest, Leon Valley, Alamo Heights,
Balcones Heights, Terrell Hills, Kirby, Converse, Schertz, Live Oak, China Grove, Castle
Hills, Hollywood Park, Shavano Park, Hill Country Village, Sayers, Palm Park, Southton, Von
Ormy, Meadowood Arces, Macdona, Cool Crest, Hilltop Acres, North San Antonio Hills,
Grey Forest, Garden Ridge, Cibolo, Selma, Bracken, New Braunfels, San Marcos, Seguin,
Helotes, Bulverde, Boerne, Leon Springs, Pipe Creek, Mico, Lakehills, Castroville, Dunlay,
Elmendorf, Saspamco, St. Hedwig, La Vernia, New Berlin, McQueeney, Floresville, Natalia,
Devine, Leming, Rossville, Somerset, Comal County, Guadalupe County, Medina County,
Wilson County, Kendall County, Atascosa County, and Bexar County, TX.
Personal Insurance
San Antonio, TX Area Health Savings Account
San Antonio - Kirby - Converse - Alamo Heights - Windcrest - Live Oak - Universal City - Schertz & more
CITY INSURANCE AGENTS
San Antonio, TX Agents
Ralph Perez Agency
(210) 670-9191
1424 S. Ellison Dr., Suite 400
San Antonio, Texas 78245