KBenefits Insurance Services
Insurance - Medicare - Retirement

Health Savings Account


What is a Health Savings Account?

  • An HSA is a savings account that you use to pay for your routine health care expenses. 
  • An HSA contain funds that are owned and controlled by you, the account holder. 
  • HSA savings rollover every year for your health care expenses even after retirement.
  • HSA is portable; the funds remain with you regardless of employment. 


Health Savings Accounts (HSAs) are a way for consumers to pay for medical expenses.   HSAs are a good way to save for future medical expenses.  HAS funds can be funded with “pre-tax dollars”, grow “tax-free” and be withdrawn for Qualified Medical Expense “tax-free”. 


Qualified Medical Expenses include your out-of-pocket amounts for deductibles, prescriptions, over the counter drugs, dental care, or vision care.  Funds can also be used for COBRA coverage during periods of unemployment, medical expenses after retirement, and long-term care expenses. 
Here is a list of QME's approved by the IRS. 
click here



Additional HSA Benefits

  • Contribute up to $3,500 individual / $7,000 family in 2019.
  • Catch up Contributions:  Additional $1,000 if you are age 55+
  • Monies roll from year to year
  • Access H.S.A funds through a debit card, check book or online transfer.
  • Contributions can be changed anytime throughout the year
  • Some banks charge monthly administration fee for all active, eligible account holders
  • There is a 20% IRS penalty for non-qualified withdrawals. 



KBenefits, LLC
Christopher S. Kudryk

Call:  732-333-1976
Fax:   732-444-5971


Broker/Agent Info:
NPN: #7990501


KBenefits insurance services provide solutions for small business owners and individuals in New Jersey & New York.  Contact KBenefits today and see how we can benefit you.

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