Health Savings Accounts: High Demand

Due to the high demand and high volume of those enrolled in Health Savings Accounts changes have been made in order to meet the needs of those participating. Should a policy holder currently participate in a flexible spending account, the funds within that spending account can now be transferred over into a Health Savings Account. Health Savings Accounts also allow funds in your account to roll over, year after year. While structurally Health Savings Accounts are similar to flexible spending accounts, they offer more freedom and incentives to the policy holder.

Health Savings Accounts: Christmas Wishes

I wanted to wish everyone a Merry Christmas.

Give yourself and family a long term present and get you Health Savings Account started.

Health Savings Accounts: President signs into law new benefits for 2007

Health Savings Accounts are now become even more enticing as the best alternative for decreasing the cost of medical health insurance premiums. The benefit of the above-the-line deduction on your taxes really makes the HSA a shoe in for most American. The great added benefit so you don't forget, is your extra tax-deferred retirement saving to use later in life.

We were awaiting these additional updates and changes, and now I am excited to see them become law.

President George W. Bush signed the Health Opportunity Patient Empowerment Act of 2006 today, enhancing Americans' access to tax-advantaged health care savings. The law, part of the Tax Relief and Health Care Act of 2006, provides new opportunities for health savings account (HSA) participants' to build their funds. (US Treasury, dated December 20, 2006)

"Health savings accounts are improving the way Americans obtain the care they need. This bill makes HSAs more flexible and makes it easier for participants to put money aside for their personal health care," said Treasury Assistant Secretary for Tax Policy Eric Solomon.

I will address more of the specific benefits in upcoming posts.

Health Savings Accounts: Tax Free Way to Save

In 2003 the Medicare bill introduced Health Savings Accounts into the world of consumer-based health insurance. Health Savings Accounts are a tax-free way to help people save for medical expenses including current medical expenses and future medical expenses. Policy holders can withdraw money from their Health Savings Account on a tax-free basis if used for qualified medical expenses.

Health Savings Accounts: Complete Control Over Spending

Health Savings Accounts are designed to give policy holders complete control over their health care spending. In short cash contributions are made to their Health Savings Accounts and are coupled with High Deductible Insurance Plans. Those who are interested in gaining more control over their health care spending and those interested in trading low deductible health insurance plans for higher deductible plans which saves money on monthly premiums as well as providing the benefit of lower taxes.

Health Savings Accounts: A Great New Entity

Health Savings Accounts are one of the newest health insurance entities in the U.S.A. Designed to improve the way Americans obtain the healthcare services they need. Health Savings Accounts are more flexible than more traditional insurance plans and make it easier for participants to put money aside for their personal health care needs. Health Savings Accounts have increased in popularity over the years and are continuing to reform traditional health insurance plans into consumer focused policies.