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309.944.5151

HSAs

It’s All About Options.

Whether you’re looking for individual coverage or trying to decide which type of plan to choose for your employees, Hanford Insurance Agency can help you find a Health Insurance solution that meets the needs of everyone.

Health Savings Accounts (HSAs) are a newer alternative to Health Insurance and are meant for those who are insured under high-deductible Health Insurance plans. These plans allow individuals to set aside money to into a savings account that they can use overtime for medical expenses that are not covered under their high-deducible plan. With a standard HSA, you can do the following.

  1. Put money into your HSA (tax free)
  2. Watch your money grow (tax free)
  3. Take out money if needed for qualified medical expenses, including dental and vision (also tax free)

Advantages of HSAs

With a Health Savings Account, you get to control the amount of money that you wish to set aside for medical expenses. All deposits, growth, and withdrawals are all tax-free for your convenience, and most important, your money rolls over each year. Unlike flexible spending accounts, you don’t lose money when your policy renews. Whatever you put into your HSA keeps growing, tax-free.

Although there are limits to the amount of money in which you can deposit into your Health Savings Account each year, as well as qualifications, it’s a great way to help you have a lower premium, supply you with medical coverage if necessary, and help you save for your future medical needs.

Contact an insurance specialist at Hanford Insurance Agency today to learn more about how an HSA can benefit you.

Our Locations

Hanford Insurance Agency (Geneseo)

119 S State St
Geneseo, IL 61254
Main office: 309-944-5151

Bell Insurance Services

210 N Prospect St
Cambridge, IL 61238
Main office: 309-937-3355

Cover Insurance Agency

107 W Main Street
Toulon, IL 61483
Main office: 309-286-2531

Hanford Insurance Agency (Port Byron)

103 N. Main St.
Port Byron, IL 61275
Main office: 309-848-9172

Hanford-Schuneman Agency (Erie)

734 Main St
Erie, IL 61250
Main office: 309-659-7877

Hanford-Schuneman Agency (Prophetstown)

312 Washington St
Prophetstown, IL 61277
Main office: 815-537-2301

VanDeRostyne Insurance Services

101 West Main St
Atkinson, IL 61235
Main office: 309-936-7220

Our Providers

Testimonials

"Hanford Insurance helps to minimize risk in my farming operations. Having them in my corner to offer expertise and understand my needs is a tremendous asset to my business."
Jim
I have been a client of Hanford Insurance Agency over the last several years and Every interaction with the agents has been more than positive. The personal attention you get from them is second to none. It is very rare these days to receive such excellent personal attention and customer service, I highly recommend them.
Ashley
"You can take heart in the fact that the agent isn't just trying to sell you something, he legitimately cares about his clients and their well-being."
Mike