HSAs offer consumers a way to have more control over their healthcare choices and costs!

The annual contribution limits for the calendar year 2019, the annual limitation on deductions under § 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,500. For calendar year 2019, the annual limitation on deductions under § 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $7,000.

Health Savings Accounts (HSA)

A Health Savings Account (HSA) is a tax advantaged savings account for current and/or future medical expenses. In 2004, Congress created the HSA as a tool to address the continually growing cost of healthcare and increase the efficiency of the healthcare system. Coupled with a high-deductible health plan, HSAs offer consumers a way to have more control over their healthcare choices and costs while simultaneously saving for future health expenses.

An HSA is an individual account that is controlled by the account holder. Primary tax advantages are that the HSA holder can:

• Contribute "pre-tax" money up to the annual contribution limit. The cash and assets stay in the account and grow without tax until distribution by the account holder.
• Distribute money tax free for Qualified Medical Expenses (QME) at any time after the HSA is open (as long as the QME occurred after the HSA was open).

What Is A High Deductible Health Plan (HDHP)?

A High Deductible Health Plan (HDHP) is health insurance that has lower premiums but a higher deductible. An HDHP pays for catastrophic medical expenses and qualifies consumers to set aside tax-free funds in an HSA. HDHPs are an alternative to the plans offered by HMOs and PPOs that feature low deductibles but charge high premiums.

Self-Directed HSA

Take the Savings to the Next Step with Your HSA

Are you getting the most out of your Health Savings Account? The majority of people who have HSAs are using them as a health spending account. Read on to improve your HSA.

Gold HSA

HDHP with HSA versus PPO - What you need to know

2019 IRA Contribution Limits and HSA Contribution Limits

The IRS has issued 2019 contribution limits for IRAs and HSAs. Take a look below to see what you’ll be able to contribute to your account(s) this year.

Using the HSA for Long-Term Medical Expenses

Alternative assets in an HSA

Start a Self-Directed HSA Account and start saving!

1. Open an HSA with New Direction Trust Company
2. Put money in that HSA by making a contribution, transferring from other HSAs or MSAs, or doing a one time direct transfer from an IRA (limited to the annual contribution amount).
3. Direct your HSA to open a brokerage account, buy real estate, precious metals, private equity, loans, and more.

Self-Directed HSA Information

Below are a few different HSA pages with information that you can use to learn more about Health Savings Accounts. View the list below for different important components to Self-Directed HSA accounts.

HSA Contribution Limits and deadlines

Open Deadline: Tax Day of next year, No extension
Fund Deadline: Tax Day of next year, No extension
HDHP must be in place for at least one calendar month during the contribution year.
You cannot use HSA funds to pay for expenses incurred prior to opening an HSA.

Any eligible individual can contribute to an HSA. For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. For an HSA established by a self-employed (or unemployed) individual, the individual can contribute.
Family members or any other person may also make contributions on behalf of an eligible individual. Contributions to an HSA must be made in cash. Contributions of stock or property are not allowed.

2018 HDHP Minimum Deductible:
For a single individual, an HSA-qualified health plan in 2015 must have a deductible no lower than $1,350.
For a family, an HSA-qualified health plan in 2018 must have a deductible no lower than $2,700.

2018 HDHP Maximum Out of Pocket:
For a single individual, the maximum out-of-pocket exposure on an HSA-qualified health plan cannot exceed $6,650.
For a family, the maximum out-of-pocket exposure on an HSA-qualified health plan cannot exceed $13,300.

2019 HDHP Minimum Deductible:
For a single individual, an HSA-qualified health plan in 2019 must have a deductible no lower than $1,350.
For a family, an HSA-qualified health plan in 2019 must have a deductible no lower than $2,700.

2019 HDHP Maximum Out of Pocket:
For a single individual, the maximum out-of-pocket exposure on an HSA-qualified health plan cannot exceed $6,750.
For a family, the maximum out-of-pocket exposure on an HSA-qualified health plan cannot exceed $13,500.

Learn more about HSA Contributions and HSA Distribution.