About Individual & Family HSA Plans

About Individual & Family HSA Plans

What is an HSA?

RMHP also offers Individual & Family plans that allow Members to open a Health Savings Account (HSA). HSAs are only available when you are enrolled in a High Deductible Health Plan (HDHP).  RMHP HDHPs offer a variety of deductible levels and premiums to meet your health plan needs and budget. Individual & Family HSA options allow Members to contribute to a tax-advantaged Health Savings Account to pay for qualified medical expenses. Because HSAs are not subject to federal income taxes, Members can budget for their medical expenses confidently.

Why Choose a Colorado Health Savings Account?

The money in your HSA grows tax-free. You are not taxed on the money you take out as long as it's used for qualified medical expenses. Other advantages include:

  • reducing your yearly taxable income by contributing money into an Individual & Family HSA;
  • 100% tax deferred contributions (up to IRS maximums);
  • interest earned on the money in your account is tax free; and
  • use of your savings is tax free when used for medical expenses or retirement after age 65.

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