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January 2004 marked the introduction of the Health
Savings Account (HSA). Previously only the self employed could
take advantage of this great program, but now HSA's are available to
everyone. What is an HSA? - simply,
it is a health insurance policy combined with a savings program that
reduces taxes and is available when you need it.
If you understand an IRA then you basically
understand most of an HSA. You establish an amount of money to set
aside for health savings. The amount you deposit is tax
deductible, and also earns tax-deferred interest.
When you need
the money for health expenditures, you use it. At the same time,
you have an insurance policy like any other that will cover your costs
after you reach the deductible. Any unused money is always yours
to keep.
Sound Confusing - we can help make it simple.
MyChoice Health will help you realize why an HSA is a fantastic way to
save money on health insurance and build savings at the same time!
Click Here to enter your contact information
and have one of our agents contact you regarding HSA's. |
