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January 01, 2011
Health Savings Accounts May Be Treated Differently In Wisconsin
Wisconsin is expected to join three states (Alabama, California and New Jersey) in considering employer contributions to Health Savings Accounts to be income. Neither the federal government nor 46 other states count such contributions as income.
The Legislature in Wisconsin has routinely passed bills that would bring Wisconsin more in line with other states, but Gov. Jim Doyle vetoed them. Senate Bill 452 that advances this Health Savings Account idea is controversial.
According to the Humana Health Insurance regional director of government relations Mary Haffenbredl, "This is so detrimental" to lower-income workers. For example, students get no financial aid or lower financial aid because they get bumped to the next income bracket."
Senate Bill 452 was authored by Democrats and eligibility is capped at 500 percent of the federal poverty level. That's around $54,000 for an individual or $110,000 for a family of four. You can learn more how health savings work on our website at: http://www.health--savings--accounts.com
Posted by Wiley Long at January 1, 2011 10:00 AM