EVCO Insurance Blog

With almost 80% of its clients in the Bay Area on health savings accounts, EVCO Insurance Services strives to educate employees on the proper use of health savings accounts in order to maximize benefit. The first priority if your company switches to health savings accounts is to make sure the account is opened. Even if the account will not be funded right away, it needs to be open in order to allow for reimbursement on a tax deductible basis. After a health savings account is open, which can simply be done by going to your bank and opening it just like any other savings account, the next step is to fund the account. Money put into health savings accounts can pay for any medical expenses on a tax deductible basis, and any unused funds roll over from year to year. No “use it or lose it” policy with health savings accounts.

Walnut Creek, CA Health Savings Accounts