Fort Collins, CO (PRWEB) March 14, 2007 -- HSA for
America today announced a new affiliate partnership program for
CPAs and other financial advisors to help their clients reduce their taxes.
Under this program, financial advisors can offer instant quotes directly from
their own website on health insurance plans that work with health savings
accounts.
Health
savings accounts, or HSAs, allow someone to put aside up to $5,650 per year
to cover future medical expenses. Any money deposited in the account
is tax-deductible, and grows tax deferred like an IRA. If the money
is withdrawn to pay a medical expense, no taxes are ever paid on that withdrawal.
"HSAs
are definitely a smart choice", says Geoffrey Goudy, CPA, a sole practitioner
in Fort Collins, Colorado. "Not only it is an immediate tax write-off,
but people who stay healthy can build, in essence, a substantial medical retirement
account for use in their later years."
HSAs
first became available in January of 2004, and now cover nearly 5 million
people and are thought to hold as much as $5 billion in investments.
HSA-qualified
health insurance plans carry higher deductibles than traditional copay
plans, in order to encourage the consumer to become more involved in their
own health care decisions. As more people carry HSA
plans, many economists predict that the competitive pressures on healthcare
providers will lead to lower prices and higher quality.
Consumers
are choosing these plans because of the lower premiums and tax benefits, yet
many are still confused about how they work. "CPAs are in the perfect
position to explain HSAs to the public", says Wiley Long, President of HSA
for America. "Yet very few CPAs are also licensed
health insurance agents. By enabling the financial advisors to offer
HSA quotes from their website, we can help them provide a higher level of
service to their customers."
HSAs
are rapidly growing in popularity, and are expected to exceed $10 billion
in assets by the end of 2007. Long said that numerous requests from
CPAs led HSA for America to put
together this program. Participating affiliates will have the opportunity
to earn referral fees when someone applies for coverage, and will also get
a listing on HSA for America's
website.
About
HSA for America:
HSA
for America is a nationwide brokerage firm specializing
in individual and family health insurance plans that are qualified to work
with Health Savings Accounts. HSA for
America represents many different insurance companies, offers instant
online quotes, online applications, and comparisons of HSA
administrators.
