Beginning in 2004, Federal Law allows for individuals to set up their own Health Savings Account or HSA. Simply put, an HSA is a high deductible health insurance plan coupled with a tax-free savings account. When a high deductible health plan is purchased (either by an individual or through an employer group), fixed premium costs are reduced, allowing the savings to be placed into a custodial account that earns interest and may be used to pay out-of-pocket medical, dental, vision, prescription and other qualified health care expenses. There are specific rules governing how an HSA may be set up and used. For this reason there are links below to some websites which provide details on how HSA’s work, and how they are established. Fear Insurance Services provides association members with these important services: We can arrange for the purchase of a qualified “High Deductible Health Plan” that is required to be in place in order to establish a health savings account; We can also assist in setting up your custodial account with any one of several qualified HSA custodian organizations (banks, savings & loans, credit unions, insurance company or third party administrator).
►	Health Savings Plans - What You Need To Know – click here to view/download a PowerPoint presentation
►	U.S. Treasury Department – click here for U.S. Treasury website on HSA programs including forms
►	American Health Value – click here to visit website of this national administrator of HSA’s