A Health Spending Account or HSA is a program for self employed sole proprietors to cover health and dental coverage.
The advantage of this plan is that it is set up and funded with pre-tax dollars. Without an HSP your medical and health expenses are not tax deductible on personal tax returns, they are only eligible for a tax credit. However, unincorporated businesses have the following maximums based on family size:
Health Spending Plans and Pharmacy Health Spending Plans have many coverage choices and options. An advisor can help determine your expense eligibility, tax savings and the appropriate coverage that suits you and your goals.