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October 16, 2005

California continues to tax Health Savings Account contributions

California senators recently decided to continue taxing Health Savings Account (HSA) contributions (report). California is one of only five states that continue to tax HSA contributions. All of the other states have conformed to federal law, allowing a 100% tax deduction for any contributions to Health Savings Accounts. Because over 40% of all HSA owners appear to have been uninsured before buying their HSA policy, these plans provide a powerful way to reduce the number of uninsured.

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Wiley Long, President of HSA for America is passionate about saving Americans money on their healthcare and taxes. Watch his personal comment videos on U.S. Healthcare Reform at Healthcare Reform Realities. If you are looking to save money on your healthcare, learn more about HSA Insurance or get an Instant Quote by selecting your state above.

Posted by Wiley Long at October 16, 2005 04:42 PM

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