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March 12, 2010
Health Savings Accounts Help You Save Money
In this economy, saving money takes creative new strategies. If you’re reasonably healthy, a Health Savings Account (or HSA), can help you save in multiple ways.
First, you typically pay less in monthly premiums for High Deductible Health Insurance that is qualified to be combined with a Health Savings Account. Second, your contributions to your HSA plan (up to $6,150 for families in 2010) are tax deductible, and you pay no tax on withdrawals for qualified medical expenses.
Paying for qualified medical expenses from your HSA is easy, too. You HSA Administrator will provide you with a checkbook or debit card that is linked to your account. You can also pay for healthcare out of your pocket, and pay yourself back from your HSA. Just keep receipts to prove that the expenditures are legal. If you don’t need funds in your HSA to pay for medical expenses, the money will be there for you when you retire much like an IRA.
You can find out more about Health Savings Accounts and apply online at http://www.health--savings--accounts.com.
Have any HSA related questions? Experts who have worked with Health Savings Accounts for years will answer your questions at no cost at 866-749-2039. You can join the hundreds of thousands of people who put their trust in Health Savings Accounts last year alone instead of waiting for government action.
Posted by Wiley Long at March 12, 2010 12:35 PM