Eligible Health Expenses

State Tax Information

Is a Health Savings Account Right for You?

Your philosophy about health and your health care consumption can help you find the best plan for your needs. A Health Savings Account is not just about money; it is also about giving you more options and taking more control of your health.

You may print this page and use the tables to help you gain clarity about your health care expenditures and needs.

Section 1 is a guide for determining your needed coverage
Section 2 helps to to quantify your true out-of-pocket health expenditures

Section 1: Coverage

	Present Coverage	Desired Coverage
Inpatient hospital services
Outpatient surgery
Physician visits (in the hospital)
Office visits
Skilled nursing care
Medical tests and X-rays
Prescription drugs
Mental health care
Drug and alcohol abuse treatment
Home health care visits
Rehabilitation facility care
Physical therapy
Speech therapy
Hospice care
Maternity care
Chiropractic treatment
Preventive care and checkups
Well-baby care
Dental care
Other covered services
Alternative health care

 

Once you have determined the coverage that you need, you must analyze your actual costs. Add to your monthly premiums your out-of-pocket expenditures for co-pays or co-insurances as well as money spent for non-covered services such as dental and alternative medicine. See eligible expenses for what may be covered with an HSA that you may be currently paying. 

Section 2: Determine True Costs (Yearly)

	Individual	Family
Cost of premium
Deductible
% Co-insurance after deductible is met
Co-pay or % co-insurance per office visit
Co-pay or % co-insurance for wellness care (well-baby, eye exam, physical, etc.)
Co-pay or % co-insurance for inpatient hospital care
Maximum annual co-insurance including deductible per person/per family
Cost of prescription medicine charges for generic, brand and "non-formulary" medicine ( not on the insurance company's approved list)
Cost of dental care
Cost of eye care, eyeglasses, contact lenses and solutions
Cost of chiropractic care
Cost of acupuncture treatments
Cost of audiology devices and batteries
Cost of prescribed vitamins and supplements
Cost of over-the-counter drugs
Cost of long-term care insurance premiums
Other HSA eligible costs
Total Costs (Premium+ Deductible+CoPays+Out-of-Pocket)

Need Help in Determining if an HSA is Right for You?