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HSAs- Health Savings Accounts in Grand Junction, Montrose and surrounding areas in Colorado

It’s All About Options.

 
When you’re choosing a health plan, there are many factors that affect your decision. If you want an option with flexibility, a high level of choice and tax-advantaged savings, a high deductible health plan with a health savings account (HSA) might be the right choice for you.
 

What are HSAs?

 
Health savings accounts (HSAs) are a great way to save money and efficiently pay for medical expenses. HSAs are tax-advantaged savings accounts that accompany high deductible health plans (HDHPs).
 
HSAs were created in 2003 to provide individuals who have HDHPs with a tax-preferred method of saving money for medical expenses. There are certain advantages to putting money into these accounts, including investment earnings and favorable tax treatment. The rationale behind the HSA/HDHP combination is that people will have a clearer idea of their medical costs and more control over their spending, enabling them to reduce their medical costs.
 
HSA money can be used tax-free when paying for qualified medical expenses, helping you pay your HDHP’s larger deductible. At the end of the year, you keep any unspent money in your HSA. This rolled over money can grow with tax-deferred investment earnings, and, if it is used to pay for qualified medical expenses, then the money will continue to be tax-free. Your HSA and the money in it belongs to you—not your employer or insurance company.
 
An HSA can be a tremendous asset as you save for and pay medical bills because it gives you tax advantages, more control over your own spending and the ability to save for future expenses.
 

Why Have an HSA?

HSA/HDHPs take a different approach to health coverage than other plans with lower deductibles. Having an HSA provides you with many benefits, including flexibility and easy saving, helping you plan and pay for medical expenses.

 

HSA Advantages

 
Here are some of the advantages an HSA provides you with:
 
Security – Your HSA can provide a savings buffer for unexpected or high medical bills.
 
Affordability – In most cases, you can lower your monthly health insurance premiums when you switch to health insurance coverage with a higher deductible, and these HDHPs can be paired with an HSA.
 
Flexibility – You can use your HSA to pay for current medical expenses, including your deductible and expenses that your insurance may not cover, or you can save your funds for future medical expenses, such as:
 
  • Health insurance or medical expenses if unemployed
  • Medical expenses after retirement (before Medicare)
  • Out-of-pocket expenses when covered by Medicare
  • Long-term care expenses and insurance
 
Also, you do not have to use your HSA to pay for medical expenses. You can withdraw money from your HSA at any time and for any reason. However, if your HSA money is not used for medical expenses, you will have to pay income tax on your withdrawal. You will also have to pay a 20 percent additional tax, unless the withdrawal is made after you attain age 65, become disabled or after your death.
 

Is an HSA Right For You?

HSAs are a growing trend in health care and offer many advantages, but whether it’s the right choice for you depends on several factors.
 
Comparing HSA/HDHPs to traditional health plans can be difficult, as each has pros and cons. For example, traditional health plans typically have higher monthly premiums, a smaller deductible and fixed copays. You pay less out-of-pocket costs due to the lower deductible, but you will pay more each month in premiums.
 
HDHPs with HSAs generally have lower monthly premiums and a higher deductible. You may pay more out-of-pocket medical expenses, but you can use your HSA to cover those costs, and you pay less each month for your premium.
 
The decision is different for each individual. If you are generally healthy and/or have a reasonable idea of your annual health care expenses, then you could save a lot of money from the lower premiums and valuable tax-advantaged account with an HSA/HDHP plan.
 
For example, even someone with a chronic condition could take advantage of an HSA/HDHP plan if he or she has a good idea of his or her annual expenses and then budgets enough money to cover cost of care.
 
However, if you are older, more prone to illness or unexpected medical conditions, or prefer certainty in medical costs over the possible risk of unexpected out-of-pocket expenses, you may want to stick with a traditional plan. You’ll pay more in monthly premiums, but you will have a lower deductible and fixed copays.
 

To help determine if an HSA is right for you and how much you might save in taxes, contact Home Loan Insurance.

 

Our Locations

Home Loan Insurance- Grand Junction, CO

205 N. 4th Street
Grand Junction, CO 81501
Main office: 970-648-0034

HL Insurance- Englewood, CO

9800 Mt. Pyramid CT. Suite 400
Englewood, CO 80112
Main office: 720-809-8119

Our Providers

Testimonials

My name is Casey and my husband and I have personal insurance through Home Loan. I wanted to let you know how pleased I am with Julie Sinclair as my insurance agent. She is polite, friendly, knowledgeable and always promptly returns my calls. Having my insurance through Home Loan and working with Julie has been nothing but easy and headache- free for me, and as a busy mom, wife and nurse, I so appreciate this! I just wanted to let you know as often employees get over looked for what an outstanding job they're doing. I think customer service in this world is often very poor so I very much appreciate her wonderful customer service skills and friendly demeanor. Thank you. - Casey P.
Casey P.
Matt, I Just wanted you to know that everyone Bill and I have worked with there at your office has been incredibly helpful and patient: Katie, Beverly, McKenzie and any of the others I can’t recall right now and especially yourself. We really appreciate all your assistance. Thanks again!
Candy Hardin, Vice President & CFO of Iona Management Group
I was so impressed with the folks at Home Loan Insurance. They were able to save me a substantial amount of money compared to the company I was with. I also have better coverage. Julie was a pleasure to deal with, she really went to work for us and researched how we could save money by consolidating all of our insurance coverage through them. Everyone I have dealt with at Home Loan Insurance as well as Home Loan State Bank has been very courteous and knowledgeable. I am recommending them to all of my friends to at least let them quote their insurance needs.
Adrian Appelhans Montrose, Co., 5 Star Google Review
We recently experienced a interior flood due to plumbing failure at our townhouse rented by my daughter. Home Loan was very quick to respond and they addressed all of our needs in a compassionate and professional manner. I would highly recommend Home Loan. The level of response and assistance was outstanding. Thanks Home Loan for making a overwhelming situation manageable.
Barbara Douchant, 5 Star Google Review
Fantastic customer service. Always prompt and helpful. I would recommend Home Loan to anyone! Julie Sinclair is awesome!
Joe Gaizutis
Julie Sinclair is extremely knowledgeable and easy to work with. My quote --at very competitive rates-- and temporary insurance cards were provided within minutes of our phone conversation. I highly recommend Home Loan Insurance and Julie. Darren Coltrinari, also Home Loan Insurance, is great to work with as well. Professional, easy going, competitive prices.
Dan Collins
Great customer service and very knowledgeable employees!
Garrett Brafford
Julie Sinclair has been helping my family with our insurance needs for years. After moving to Kansas for college several years ago, I was upset I would have to start using a different insurance company. Now that Home Loan is covering Kansas I'm so happy to be back working with her again. She is not only easy to work with, but extremely knowledgeable of the products her company offers. My husband and I are looking forward to working with Julie for many years to come!
Amy Pick
Love Home Loan! Julie has been so great with our car insurance and Wendy Jones is a true gem! Would highly recommend them!
Leah Johnson, 5 Star Google Review
Home Loan Insurance is as top notch a company to work with as they come. I'd say they are even better than advertised.
John Messinger, 5 Star Google Review
I have been a Home Loan Insurance customer for 20 years. I have added several policies and have filed multiple claims over the years. The service has always been excellent.
Nate Russell, 5 Star Google Review
I have been working with Brittany Case regarding my health insurance policy. She has went above and beyond to help my husband and I during this difficult process. We couldn't have done this without her. I highly suggest using this company for any of your needs.
Ashley Newberry
Sara at Home Loan Insurance is great!! The customer service was wonderful! She had my insurance needs handles within 15 min! She was so nice! HLI for all my insurance needs from now on!!
Madison Alexander, 5 Star Google Review
I have always had excellent service and support from Kim Burkert in Employee Health and Benefits. Last week Kim had to make numerous phone calls to resolve an issue with one of our employee's insurance coverage. She was very pleasant through the whole thing, called and informed the employee with the problem of the resolution and let me know the outcome of the issue as well. In our staff meeting, the employee gave Kim rave reviews and it was seconded several times by others in the meeting about the quality of our insurance and the service we receive. Jim Wood ALLURData, Inc.
James Wood
The team at Home Loan Insurance is so helpful. Every staff person I've come in contact with has been helpful, easy to understand and willing to work for me. Plus, is you go in person, they often have enticing goodies in the lobby. Who doesn't love a sweet treat from Enstrom Candies or Charley's Cookies while running an errand! :)
Honora T, 5 Star Google Review
Great Customer Service Carma was wonderful with helping me get home owners insurance when no other home owner insurance company's would help. Very quick and helpful guiding me through the process. Carma should get an award for outstanding customer service.
H.S. Bundock
Recently I worked with Carma Brown's assistant, Sara Mendenhall. Sara was incredibly helpful in working through my car insurance concerns and costs. She was able to guide me through the pros and cons of the various deductible options and helped me to make sound decisions.I left the office pleased! I would say the same for Carma Brown - always helpful and ALWAYS goes above and beyond whether I have had an auto or home insurance issue. Thank you for all you do! TW
Terri Wenzlaff, 5 Star Google Review
Our agents are fast responding to questions, super friendly and overall so easy to work with. Thanks for great service!
United Way of Mesa County
Carma Brown and the insurance division at Home Loan have demonstrated outstanding service to my wife Valerie and me from day one. We have used Home Loan Insurance for many years I can vouch for their consistency of great service and ability to understand our needs insuring our properties, vehicles and other specific requests. They have been especially versatile any time we have requested service in an emergency time frame. We recommend Home Loan Insurance to all our friends and business partners.
Kevin Brooks, CEO of Big O Tires, Inc.
Our company has done business with Home Loan for decades, and I personally have been involved since my hire here about 4 years ago. As with most business relationships there have been ups and downs. I will stress MORE UPS, than downs. I have been able to talk with all available personnel there, whenever necessary, and have always received a prompt response to our requests. We have always been able to resolve any problems and have worked to improve our systems on both sides. I would not hesitate to recommend Home Loan to anyone requiring their services.
Medic Adams, Moody Construction Risk Manager
Home Loan Insurance has always given me excellent service!
Rebecca Daniels, Owner of DLD Pipe Recovery Systems, LLC
To me the three most important properties necessary for a business to succeed are quality, cost and response, but I was wrong because Carma Brown added the dimensions of friendliness, warmth and caring to the insurance business so that no matter what emergency or situation we may get into we know that Carma and the folks at Home Loan Insurance will take care of us. These last three dimensions can't be bought or paid for; they are just there whenever we need them.
Lon Alexander, Retired
Beverly [Troester] is a connector at heart. She seeks to connect her clients, associates, and colleagues to solutions. Her knowledge of insurance and the current condition in the insurance world is outstanding. She is never afraid to say that she needs to research something and even better she will always follow up with the answer when she finds it.
Jennifer Kettlewell- Executive Director of NW Colorado BNI
I have been a customer of Home Loan for a little over a year, but my family has been with them for years. What service! Always returning calls promptly, making sure my questions are completely answered and to boot, they had the best prices!! Winning combo- great service + great prices. Thanks, Carma & Wendy!!
Connie Tremblay
I would recommend everyone here in the Grand Valley to come on down to Home Loan Insurance. They have friendly, fun, and excellent customer service!
Kiana G.
I worked with Rich [Englehart] for about 5 years and came to know him both as a professional and as a friend. Rich is the type of agent that makes you feel "at home," because he works very hard to ensure you feel comfortable with your insurance coverage. I would highly recommend Rich to any business owner looking to protect their investment.
Stephanie Roush- Crouse and Associates
I am a customer of both Home Lone State Bank and Home Loan Insurance. I am very satisfied with service levels on both sides! A very helpful company no matter what our needs are and are glad to see you when you come in.
Gary Crone, Owner of Comet Cleaners
Home Loan and their employees are not only a huge support to our community through their volunteer efforts and donations but also provides our family with trusted service for our insurance and banking needs for the last 18 years.
Kelli H