Karen Adams Insurance Agency, Serving California for 30 years.

In This Issue:

Millions of Americans are concerned about the high costs of healthcare

in the U.S. By making the most of your HSA and shopping for the best

values for medical treatments, prescriptions and products, you can reduce

your healthcare bills.

One way to save is to utilize the growing number of retail stores offering

healthcare clinics. Instead of contacting your primary physician for something

as minor as a sore throat or sinus infection, as well as vaccinations, you

may opt to walk into a CVS Minute Clinic, Wal-Mart In-store Health Clinic,

Target Clinic or one of the many other grocery store or retail clinics popping

up around the country.

Benefits you can expect with health care clinics:

• Minimal wait times

• No scheduled appointment needed

• Extended hours

• A menu board of services and fees, which eliminates the guess work

of each visit

• An electronic record of your visit for future reference

Most visits cost anywhere from $30 to $70 compared to $90 to $120 with

know that using your tax deferred monies for this visit would help to cover

the cost.

For more information or to find a retail clinic near you, contact the Convenient

For the calendar year 2010, the maximum HSA contributions are:

• For individual coverage, the maximum contribution is $3,050

• For family coverage, the maximum contribution is $6,150

• In addition to the maximum contribution amount, catch-up contributions

of $1,000 may be made by or on behalf of individuals age 55 or older and

younger than 65

The contribution limits include all contributions made on behalf of the

individual. If an individual has more than one HSA, the annual contribution

limit applies to all the HSA’s.

According to the census released by America’s Health Insurance Plans (AHIP)

eight million Americans are covered by Health Savings Accounts (HSA) this

year. High Deductible Health Plans (HDHP) have also increased, which

means 20 percent of Americans are covered by an HDHP. This plan

encourages Americans to control the amount they spend on healthcare

while helping plan for medical expenses in the future. Consumers are

now choosing and comparing rates just like they do when shopping for car

insurance or credit cards. They are making conscious decisions about how

much they spend each year on their prescriptions, surgeries and medical

procedures. 83% of Americans said individuals should research healthcare

options and try to get the best price, just like they do for other major consumer

purchases.

Blue Cross Blue Shield Association reports that adoption of HDHP/HSA plans

are growing at 30% a year. And 19% of large employers are currently offering

HDHP/HSA plan arrangements, up from 10% 2 years ago.

With the high adoption rates from Employers the need for strong education

has also grown. Communication materials and training sessions for ongoing

support are offered by the Training Division at The Bancorp Bank. To request

For more information about the 2009 census report, please visit

In this challenging economic climate, there are many people facing the

prospect of unemployment. There may be some questions which arise

regarding the handling of HSAs. The good news is that anyone in that type

of situation, who has a balance in their HSA, can begin to use those funds

to help in between jobs.

The money in your HSA remains with you even after you lose or leave

your job. Unlike FSAs, the account is individually owned, so the monies

are not lost when someone loses their job. The account is completely

portable and may continue to be used as normal if an individual enrolls

in a new HDHP. You may also want to shop for an individual policy rather

than opting to take on the expenses of COBRA. To help you compare

The IRS allows individuals to pay for COBRA continuation with HSA funds

- or insurance premiums while on unemployment compensation. You can

continue to use your HSA funds for future medical expenses, but you may

only continue contributing if you are covered under a qualified HDHP and/

or extend that HDHP through your COBRA coverage.