What
is an HSA?mp3pro expired
Why are Health Savings Accounts such
an exciting new option in Health Care?mp3pro expired
Did you know...mp3pro expired
Most consumers today, purchase a low deductible
policy, with copays, and they have no idea how much health
care really costs. This consumer,(unless self-employed), gets
no tax deduction for their premiums paid. Employees, as well,
have deductions taken from their paychecks and these dollars
are also not deductible. mp3pro expired
The trend today...mp3pro expired
Today you shop diligently for the best price
of furniture, cars, office supplies, etc. When was the last
time you shopped for the best price of medicine, routine physicals,
etc. Most likely never...why?, what
is different? It is still your money.
Why not carry that trend into your healthcare options...
A 'smart' shopper wants to know they are spending their dollars
wisely. With an HSA you get that luxury. The account value
in your HSA can be carried forward for years to come and these
accumulated dollars are no longer mailed to some insurance
company and lost for good. These dollars are your
dollars and can even help fund your retirement needs after
age 65.mp3pro expired
How it works...
With an HSA, you can leave the large expenses to the insurance
company and pay for Rx, routine office visits, etc. out of
your HSA
account. You accomplish this by changing your health care
policy to a no frills high deductible health policy and then
take your premium savings and deposit it into your own, personal
Health Savings Account.
Did you know...mp3pro expired
All or a portion of your HSA payroll deductions
or deposits are deductible for that year depending on the
amounts deposited and the time of year these deposits are
made. Monies in the HSA can be left in an interest account
or can even be invested in mutual funds for more aggressive
depositors. Any gains from this activity also are tax
free if used for qualified expenses or used after
age 65.
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- Health Savings Accounts became available
January 1, 2004
- Better tax treatment than IRA's?....Possibly
- Who is eligible? Both individuals and employer
groups.
- Are HSA's like MSA's? No, much less restrictive
and almost anyone is eligible for an HSA.
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