If you are a million self-employed Americans without health insurance, take advantage of new options for affordable health insurance now available. With a health savings account and a high-deductible individual or family policy, you can help protect the health of your family. And it has tax advantages too.
A Health Savings Account is a new affordable health insurance option. Health Savings Accounts will change the way millions can save to meet their health needs. HSAs will help consumers have more choices to meet their health needs The account is configured as a savings account, but you can use the funds to pay your health expenses. With an HSA, you can pay for current health expenses and save for future qualified medical expenses and health care for retirees on a tax-free.
You have to be covered by a Health Plan High Deductible (HDHP) to take advantage of the HSAS. An HDHP generally costs less than traditional coverage of health care, so that the money you save on insurance can be placed on the health savings account. The national average premium for an individual policy is only $ 92 per month and $ 272 per month for a family policy.
Using an HSA can reduce your tax bill too. If you make the maximum tax deductible annual contribution this year, these new health insurance premiums are tax deductible so that your after-tax cost will be even less!
These new plans to reward you for staying healthy. Because they are based on actually using the services of health care, your premium is lower. In a traditional system of health care premium is based on an average, if you can pay on the basis of risks to the health of a large group. You own and control the money in your HSA. You make the decision on how to spend the money - provided you stick to the costs of qualified medical personnel. For a detailed list of acceptable expenses, see IRS publication 502. Also, you make the decision on the types of investments to make money in the account grow. Indianapolis Hospitals
If you invest in a health savings account now, when April rolls around next year, you'll not only be a good option for health care in place, you will get a tax advantage.