LIVONIA, Mich., Sept. 29 /PRNewswire/ -- An innovative individual health plan offering significant policy premium and tax savings has been introduced by American Community Mutual Insurance Company. The new Community MED HSA enables individuals and families to take advantage of the Health Savings Account (HSA), a federal health-related tax benefit, that went into effect in January, 2004.
Health Savings Accounts have maximum annual contributions of $2,600 per individual and $5,150 for families to pay for health-plan deductibles and medical expenses not covered by insurance. These contributions are tax- deductible and can be rolled over from year-to-year, earning interest and remaining tax-free as long as they are used for qualified medical expenses.
With the American Community MED HSA plan, consumers benefit from a lower- cost plan that provides health care through a preferred provider network offering a choice of 100% or 80% network coverage for inpatient and outpatient care, as well as prescription drugs. Other services, such as maternity and dental coverage, are optional. An industry-leading plan feature is an accident benefit that waives the deductible for covered services provided to an injured family member within 30 days of the occurrence.
American Community MED HSA plans will also be available for employee groups. Further information on the new American Community MED HSA Plan is available by calling the company at 1-800-991-2642.
About American Community
Founded in 1938, American Community Mutual Insurance Company was the first health care insurance company in Michigan and is one of the oldest in the nation. Based in Livonia, Michigan, American Community provides individual and group health insurance products in eight states through an agency force of over 5,000. The company provides high quality, affordable coverage to approximately 200,000 people. For more information, including agent location, visit http://www.american-community.com/ .
American Community Mutual Insurance Company
CONTACT: Shari S. Cohen of Smith-Winchester, +1-248-352-3333,shari@smith-winchester.com , for American Community Mutual Insurance Company
Web site: http://www.american-community.com/
