« How Health Savings Accounts Really Work | Main | 2012 Health Savings Account Plan Minimums and Maximums »
August 18, 2011
Arizona Offers HSA Plan Tax Credit On Health Insurance For Small Businesses
Arizona has a new law to motivate small businesses to help employees with health insurance. It offers firms dollar-for-dollar tax credit up to $360 a year on the purchase of high-deductible HSA plans and Health Savings Accounts.
There's an additional $360 credit for contributions the employer makes to a worker’s Health Savings Account. The credits are only available for three years, which may be all that is necessary.
Expressing the National Federation of Independent Business' support, director Farrell Quinlan says, “We believe these incentives will help provide probably one of the lowest-cost health care options with a Health Savings Account.”
High-deductible policies used to mainly provides coverage for catastrophic medical costs leaving beneficiaries to pay for medical expenses until the deductible was met. After health care reform, plans purchased now start coverage immediately for services termed recommended preventive health care. You can learn more about these plans by running instant quotes on our site.
Posted by Wiley Long at August 18, 2011 10:03 AM