Health Savings Account Blog http://www.health--savings--accounts.com/hsa-weblog/ Your Health Savings Account News and Information Source en Copyright 2009 Fri, 20 Nov 2009 11:14:55 -0500 http://www.movabletype.org/?v=3.17 http://blogs.law.harvard.edu/tech/rss Health Savings Account Things To Consider A Health Savings Account is becoming a popular tool to save money for medical expenses. Many employers are providing them in conjunction with a high-deductible health insurance plan so that their employees can afford their deductibles. While Health Savings Accounts are becoming more popular, many people still do not know much about them. Here are six things to consider if you are thinking about getting a Health Savings Account.

1. Pre-Tax Contributions to your Health Savings Account

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/6_consideration.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/6_consideration.html General HSA Info Fri, 20 Nov 2009 11:14:55 -0500 High Deductible Health Plans and Health Savings Accounts As the cost of health insurance and healthcare continues to grow, individuals and families are actively looking for ways to lower their healthcare costs. This increased cost, as well as the current health care reform efforts, have been beneficial for a couple of reasons. First of all, it has caused people to creatively look at ways to reduce premium cost. Secondly, it has caused us to consider what real purpose health insurance serves and evaluate our past coverage choices. Let's take a look at the components of using a Health Savings Account plan:

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/high_deductible_2.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/high_deductible_2.html General HSA Info Tue, 17 Nov 2009 12:43:57 -0500 Health Savings Account Deadline December 1st - Don't Miss This Date! ]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/health_savings_146.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/health_savings_146.html HSA Insurance Companies Fri, 13 Nov 2009 20:19:52 -0500 General Motors Moves to Health Savings Accounts General Motors Co. is moving most of its 24,000 salaried employees into Health Savings Accounts and away from traditional health care plans starting at the beginning of 2010.

The employees are being offered two Health Savings Account options:

One Health Savings Account plan has a maximum of $2,200 in yearly out-of-pocket costs for a single salaried employee, and $5,000 for a family.
The other Health Savings Account plan has a $1,300 out-of-pocket maximum for an individual and $3,100 for a family, but with a higher monthly premium.
]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/gm_tweaks_healt.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/gm_tweaks_healt.html Healthy Living for HSAs Thu, 12 Nov 2009 08:58:53 -0500 Blue Cross Offering Health Savings Accounts To Employees While insurers nationwide say it's important that healthcare reform offer people plenty of insurance alternatives, Blue Cross Blue Shield of Florida has decided that one health insurance plan is best for their employees.

Their agents will continue to offer individual and businesses dozens of options in PPOs, HMOs, and other health insurance options, but next year the 5,000 employees of Blue Cross Blue Shield of FL will be required to go into a Health Savings Account with a high-deductible health insurance plan.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/blue_cross_to_o.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/blue_cross_to_o.html HSA Insurance Companies Mon, 09 Nov 2009 10:33:21 -0500 How Health Savings Accounts Can Turn Bad For millions of Americans worried that health care costs could wreck them financially later in life, Health Savings Accounts are a savior.

More than 8 million people have over $10 billion in Health Savings Accounts as of November 2009. That figure is estimated to rise to over $70 billion within five years. Over a seventh of that money will be in balances large enough that the HSA administrator can offer mutual funds as an investment option. A typical Health Savings Account has $2,000 as the minimum for a mutual fund feature.

So some question: How can you lose? The Answer...

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/unhealthy_healt_1.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/unhealthy_healt_1.html HSA Administrators Fri, 06 Nov 2009 07:35:28 -0500 How Healthcare Bills Will Impact Health Savings Accounts Congress will soon vote on health care reform legislation that could harm the more than 8 million Americans who have a Health Savings Account (HSA) and restrict those who want to purchase HSA coverage in the future.

Starting this week, the House of Representatives will begin debate on the Affordable Health Care for America Act, and the Senate is expected to finish work on its version of health care reform shortly.

Both the House and Senate bills make major changes that would impact people with Health Savings Accounts:

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/current_health.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/current_health.html Healthcare Debate Tue, 03 Nov 2009 18:08:23 -0500 Health Savings Accounts and Obamacare Health Savings Accounts could very well be the answer to our current healthcare mess. They are tax-exempt accounts which allow employees and employers to contribute thousands of dollars annually toward paying for health expenses. In conjunction with high-deductible health insurance, most people much less in premiums than a regular insurance option. Often, an employer will save enough to pay the deductible amount into the Health Savings Account, and still be able to cover the high-deductible health insurance plan's premium.

In other words, if all Americans got Health Savings Accounts overnight, we would immediately begin saving about one-third of our health care spending, and would instead put that money away for when we need it most. The results...

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/health_savings_142.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/11/health_savings_142.html Healthcare Debate Sun, 01 Nov 2009 11:12:29 -0500 Health Savings Accounts Are Benefiting Employees and Employers Multiple surveys conducted by ACS Solutions have shown that employees and employers who are using a Health Savings Account and a HSA-qualified health insurance plan are saying they are satisfied with their coverage, spend less on healthcare and are more engaged in managing health benefits.

Tax-favored Health Savings Accounts are designed to help individuals pay for current qualified health care expenses and save for future medical and retiree health care expenses.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/research_hsas_s.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/research_hsas_s.html General HSA Info Wed, 28 Oct 2009 10:28:04 -0500 Health Savings Accounts Continue Expansion As the healthcare debate in country continues on, there are many banks that are finding their Health Savings Accounts are exploding.

Health Savings Accounts, which are designed to allow saving for medical and retiree health expenses, are savings accounts set up through banks. Proponents say they allow more flexibility in how workers use their health care funds, while critics say the accounts favor healthier and younger people.

At Dubuque Bank & Trust, senior vice president Doug Stillings says Health Savings Accounts are particularly attractive to small businesses.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/health_savings_137.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/health_savings_137.html HSA Administrators Sun, 25 Oct 2009 10:40:11 -0500 Health Savings Accounts Are Better Than Flexible Spending Accounts Not long ago, Flexible Spending Account were all the rage. They allowed you to set aside pre-tax dollars from your payroll check and place it into an account which you could use to pay for medical expenses. Unfortunately, these accounts have many drawbacks and they are no longer as appealing as they once were.

Today, Health Savings Accounts have replaced Flexible Spending Accounts as the preferred pre-tax dollar savings vehicle for healthcare spending. There are many more advantages to Health Savings Accounts which are more appealing to individuals and families.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/dump_the_flexib.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/dump_the_flexib.html General HSA Info Thu, 22 Oct 2009 09:13:29 -0500 Health Savings Accounts Continue to Grow in 2009 According to a Canopy Financial's Health Savings Account Market Report for the first quarter of 2009, the average Health Savings Account balance continues to grow from quarter to quarter.

Canopy found that the average individual Health Savings Account holder for the first quarter of 2009 was 42 years old and contributed $116 monthly, up slightly from an average monthly contribution of $111 for the fourth quarter of 2008. The average family Health Savings Account holder for the first quarter of this year was 45 years old and contributed an average of $239 monthly, up from an average monthly contribution of $206 for the previous quarter.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/health_savings_140.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/health_savings_140.html General HSA Info Mon, 19 Oct 2009 09:06:53 -0500 Health Savings Account Administrator Gold Investment Option One Health Savings Account administrator we know of, Entrust, is offering clients a chance to turn their Health Savings Account investments into gold. Their company has announced the launch of their new Golden Health Savings Account (HSA), which will allows individuals to invest their Health Savings Account funds in gold.

Most HSA plans offered by banks are limited to investments in bank-issued assets like CDs, with minimal returns. Investors have therefore expressed an interest in gold and precious metal investing and Entrust New Direction has responded with its new Golden Health Savings Account. Specially designed for ease of access, the New Direction Golden HSA opens the door to gold and other precious metals investments.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/health_savings_141.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/health_savings_141.html HSA Administrators Fri, 16 Oct 2009 19:27:05 -0500 Health Savings Accounts Are Helping To Lower Healthcare Costs Two business executives have suggested what we have been saying all along, that Health Savings Accounts along with High Deductible Health Plans would help reduce the effects of rising health care costs.

Tom Kennedy from J.F. Brennan Co. marine construction and Tom Brock from Altra Federal Credit Union said their firms have seen positive results with Health Savings Accounts. The two spoke at a forum sponsored by the Coulee Area Regional Employers, or CARE, Health Action Cooperative.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/high_deductible_1.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/high_deductible_1.html Healthcare Debate Tue, 13 Oct 2009 10:35:27 -0500 Health Savings Accounts Create Opportunities For Banks Following healthcare reform closely, insurers and banks are fighting to keep tax-advantaged Health Savings Accounts as part of any reform.

Money in Health Savings Accounts can be used to pay for current health-care expenses, such as deductibles and co-pays, as well as to save on a tax-free basis for future medical expenses, such as Medicare premiums. To qualify for a Health Savings Account, investors need to be enrolled in an high deductible health insurance plan that meets certain criteria. This year those include a deductible of at least $2,300 for a family and $1,150 for individuals.

]]> http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/banks_battle_fo.html http://www.health--savings--accounts.com/hsa-weblog-arch/2009/10/banks_battle_fo.html HSA Administrators Sat, 10 Oct 2009 11:16:50 -0500