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May 02, 2010
Health Savings Accounts Are More Valuable after Healthcare Reform
With the new healthcare legislation, insurance companies will be extending protection to more people. Insurers will be required to protect children with pre-existing health problems within the first year of the legislation, and must permit parents to keep their children on the parents’ insurance plans until children reach age 26.
With a Health Savings Account (HSA), you can take a tax deduction for withdrawals from your HSA to pay for health-related expenses not just for yourself and your spouse, but also for your children and any family member. That’s true even if that person is not covered by your health insurance. All of these health-related payments can be deducted from your income to reduce your taxes.
The new legislation also prevents insurance companies from revoking coverage because of severe illness, and from limiting your annual or lifetime benefits. That will help you get back the value of all those insurance premiums.
With new health insurance regulation, high-deductible health insurance plans that work with Health Savings Accounts are a better value. See how a HSA can help you at HSA for America. You can use our HSA "How To Guide", or schedule a no-cost consultation. At HSA for America, we offer a broad range of different types of insurance to protect your health and your dreams, but we’re not a big corporation. Call us at 866 749-2039 to be assigned your own Personal Advisor who you can rely on for as long as you’re a client.
Posted by Wiley Long at May 2, 2010 01:47 PM