Health Savings Accounts: Major in Majors…Don’t Major in Minors!

Special Memorial Discount: Link at bottom of comments. Once a year only!

While mining through a pile of e-mails during the Memorial Day weekend I came upon a forwarded e-mail that would give you the best gas prices in your area after putting in your zip code.

The web site would give you the best price per gallon and a map of the town to guide you towards this landfall of cash savings.

Planning not to work the rest of the day, I put a calculator to the minor saving and found our that after choosing a site not far from my house I would save 1-2 cents per gallon of gas. That’s were I go anyway.

This starting me thinking…not good on a day off!

What I found was the most I could save after calculations (without driving there as a variable) not to mention the time, that I would save $4.00 for every 20 gallon of gas purchased.

After 15 minutes I figured out that without the other input or variables I could never re-coupe the measly 16 dollars an hour to buy 80 gallons of gas every.

I think you can see where this is going…I hope?

Thus my special for Memorial Day and our troops and supportive family members back here at home.

Take the time to find out why Health Saving Accounts are the fastest growing, largest tax savings and best benefits for you and your family.

But don’t take my word for it, do some research.

Ask questions, and know what ones to ask.

I author the #1 e-book on the Internet.

A how-to…to ask the right questions, and get the secrets, and the pitfalls to watch out for.

Pic up my e-book just by visiting Squidoo at HSAInc.

All veterans and supporters will receive a 80% discount off the Entrepreneurs v.7 edition of Health Savings Account Guidelines Made Easy”!

The normal cost of my E-book is $49.97 and I am discounting it to $9.97.

The offer is good till the end of the month only!

Remember out troop!!!!!!!

P S You will get the downloaded e-book within less than minutes right in your e-mail box.

P S S Tell a friend so he or she won’t miss out on this one time discount for our veterans.

HSA Video comments Re: DeMint Speech Against Socialized Medicine

Health Saving Accounts: Are they really A Win-Win Situation?

Health reform is the topic of conversation on a daily basis. More people are demanding health insurance policies that place an emphasis on the consumer. With escalating health care cost it is nearly impossible to come out on top. While savings and health care seem like polar opposites, Health Savings Accounts make saving for your health care needs a reality. Increasing in popularity, Health Savings Accounts are becoming more and more mainstream.

The basis of a Health Savings Account is that under a high deductible health plan you are able to open a Health Savings Account. Deposits can be made into your Health Savings Account up to the amount of your deductible. Health Savings Accounts can be used to cover medically qualified expenses. Often time these expenses are not covered by your typical insurance plan, giving Health Savings Accounts an edge over it’s competition. Similar to IRA’s, Health Savings Accounts are tax-free accounts.

Health Savings Accounts advantages include:

• Health care costs including deductibles and co-payment can be paid with your Health Savings Account.

• Health Savings Accounts put the policyholder in the driver’s seat. You choose where your money is spent. Eye care, dental care, and over the counter medications are all considered medically qualified expenses.

• At the end of each year the money left in your account will be rolled over year after year.

• Health individuals can accumulate a large sum of money that can be used to pay for medical expenses in the future. You can also use the money in your Health Savings Account to cover medical expenses of family members.

Health Savings Accounts might not be for everyone, but if you fit the qualifications this could be a wonderful option.

Health Savings Accounts: The Beat Goes On & On!

Go right now and check out two new Squidoo pages on Health Savings Accounts & High Deductible Health Plans and Health Savings Accounts: Entrepreneurs “Top 10″.

Health Savings Accounts: Greater Access to Health Care?

Health care reform has been the topic of conversation for generations. Access to health care is an ever-increasing issue affecting millions. Health Savings Accounts are helping to solve the problem of access and affordability of healthcare. Health Savings Accounts insured an estimated 7.4 million Americans last year according to researchers at Information Strategies. Health Savings Accounts continue to rise in popularity and the number of those enrolling in Health Savings Accounts and High Deductible Health Plan continue to grow. So what are Health Savings Accounts?

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. If there is money left in the account at year’s end the funds will be rolled over into the next year. This will continue year after year after year. Health Savings Accounts give you the opportunity to save up for catastrophic medical expenses.

Health Savings Accounts are available to virtually anyone. In order to qualify for a Health Savings Account you have to be enrolled in a High Deductible Insurance Plan. The other major stipulation is that you cannot be a Medicare recipient. Health Savings Accounts and High Deductible can offer huge savings while still providing ample coverage. Should a policy holder enroll in a Medicare plan after participating in a Health Savings Account program, the funds within that account would still be available to the individual.

One other key factor in Health Savings Accounts is that the funds used have to go toward qualified medical expenses. A basic list include braces, over the counter drugs, birth control pills, childbirth preparation classes, crutches, psychological help, lasik surgery, etc.

Health Savings Accounts: Negatives!

The downfalls of owning Health Savings Accounts is you have to have a good health history or know the ins and the outs of moving from a group plan to a group plan or personally owned Consumer Directed Health Care (CDHC) plan correctly.

The Health Savings Account (HSA) and the associated High Deductible Health Plan (HDHP), also known as (CDHC) is less expensive and the savings per month in premiums can be placed into the savings portion of the HSA. The premiums per month just happens to (State to state the amount saved is not equal, so total differ.) be close or more then the amount needed to put into your Health Savings Account.

The monthly premium savings put into your HSA will pay for the extra benefits you will use/or not until your deductible is meet. Then your health insurance plan kicks in just like it does on the lower deductible premium expensive health plans. That is why these plans are becoming so popular!

Hey, if you don’t spend it…it goes towards your retirement and grows tax deferred!

Keep and eye open for the Health Reimbursement Arrangements secrets that gives an unhealthy employee the option to take advantage of a Health Savings Account.

Health Savings Accounts: Usage up 35% and critics see them as great tax shelter.

The number of Americans with insurance plans tied to Health Savings Accounts has passed the 6 million mark, according to America’s Health Insurance Plans. HSAs are tax-favored, individually owned savings accounts that can be used to pay for medical expenses in conjunction with a High Deductible Health Plan. About 6.1 million Americans were covered through HSA plans in January 2008, up 35 percent over the same period a year earlier, according to AHIP, a trade association representing insurers. The plans have been in existence since January 2004.

About 30 percent of individuals covered by HSA plans worked for small businesses, 45 percent worked for large employers, and 25 percent bought insurance in the individual market. The small-group market is the fastest-growing segment for HSAs. The AHIP survey found that HSAs are helping more Americans afford health insurance. HSA plans accounted for 31 percent of new coverage in the small-group market over the past year, and 27 percent of new coverage in the individual market.

The average deductible for the best-selling HSA plans in the small-group market was $2,244 for single coverage and $4,356 for family coverage, according to AHIP.

Average annual out-of-pocket limits were $3,462 for single coverage and $6,690 for family coverage.

Premiums averaged $3,189 for single coverage and $8,125 for family coverage.

HSA’s researching:Think you know the scoop?

Health Savings Accounts and High Deductible Health Plan: Researching them is an art or a sucker punch?

Health Savings Accounts: Saving Money! $$

Health Savings Accounts are quickly becoming Americas leading source of insurance for both individuals and families. Health Savings Accounts hold many benefits for its policyholders. By utilizing a Health Savings Account coupled with a High Deductible Health Plan you are able to lower your health insurance premiums, reduce your income tax, as well as build a medical retirement fund. Just to name a few benefits of this coupled insurance plan.

Enrolling in a Health Savings Account is the ideal way to maximize the money spent on health care. The basic foundation of Health Savings Accounts and High Deductible Insurance Plans is that they both focus on the need for consumer driven health care. Health Savings Accounts are tax favored/tax free savings accounts that are combined with High Deductible Health Insurance Plans. This plan, allows the policyholder to deposit funds into their account that are tax deductible. Health Savings Accounts cover qualified medical expenses not typically covered under traditional health insurance polices. The High Deductible Insurance plan is working to protect your future health care needs, while the Health Savings Account benefits now by allowing you to deposit tax-deductible funds into a Health Savings Account that you can use to cover medical costs such as: co-pays, dental services, prescriptions, over the counter medications, chiropractic care, and health related travel expenses. Those who enroll in a Health Savings Account have the freedom and flexibility to decide on health care options.

A key component of Health Savings Accounts and High Deductible Insurance Plans is preventive care. By investing in your health through prevention you are able maximize the money spent of health care. You will subsequently have less frequent doctors visits, hospital visits. You prescription medicate bill has the potential to decrease as well as the amount of money spent on co-pays. Should a loved one get sick you are also able to use funds within your Health Savings Account to contribute to their care.

There are a number of factors that play into Health Savings Accounts becoming such a hot commodity. This article has only touch on a few. Never the less, High Deductible Insurance Plans and Health Savings Accounts are worth looking into.

Health Savings Accounts: Videos, Articles and extras!

Go check out the my Squidoo page at HealthSavingsAccountsInc and you will find interesting videos, articles and many extras. You will also find the best deal on the number one selling how-to
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Great Article:

The State of the Union address from President Bush brought the concept of Health Savings Accounts out into the open for all to see. This huge reform is long overdue and a great solution to health insurance plans for many Americans.

A Health Savings Account (HSA) coupled with a HSA-qualified low cost High Deductible Health Plan (HDHP) takes the bite out of monthly health care premiums. A Health Savings Account also provides a powerful savings component as well.

Let’s look at the details:

Health Savings Accounts were passed by Congress in 2003. It has taken a while for the word to get out.

Health Savings Accounts are tax-free savings accounts: they need to be coupled with a HSA-qualified High Deductible Health Plan which covers catastrophic medical expense so HSA + HDHP are required by the IRS to be tax-free.

Families can put as much as $5,650 or individuals $2,850 annually into these Health Savings Accounts. (These are 2007 numbers.) This money can then be used to cover qualified medical expenses like doctor visits, dentist visits, routine checkups, etc.

The expensive Low Deductible/Co-pay Health Plan has no savings plan nor does it cover additional eligible medical expense procedures that are covered under a Health Savings Accounts and HSA-qualified High Deductible Health Plans.

The exciting thing about HSA accounts…besides the tax-free part…is that you can carry over unspent monies from year to year. It doesn’t matter where you work or for whom you work! It’s portable no matter what!

Health Savings Accounts give control over how much you spend and where. The possibilities are eye-opening! You’re not tied to any plan’s particular doctors or medical groups. You are free to choose the providers you want and in what ever state, county or country you want!
Health savings accounts when set up properly can save you lots of money and allow you total control and flexibility. This is what everyone wants.

The savings aspect:

Having a traditional IRA or a 401(k) gives you a deduction for all contributions made yearly, but after age 65 all distributions (Roth IRA’s don’t apply) are taxed at both the federal and state level, including capital gains.

Health Savings Accounts give the same benefits as IRA’s and 401(k)’s.

The major difference is the money withdrawn for qualified medical expenses is never taxed!
Health Savings Accounts have no age restriction on when you may withdraw the funds like other IRA’s and 401(k)’s do.

Retirement Bonus:

Health Savings Accounts are able to be withdrawn after age 65 for any purpose without penalty. You still pay income taxes if used for anything other than eligible medical expenses.

Self-Employed Bonus:

Knowing that the self-employed can write off 100% of health care premiums makes the financial subsidy a great benefit.

The payments of premiums come out of your business and savings occurs from much lower premiums (up to 56%) and in the tax-free contributions to your Health Savings Account.

Security and Safety Bonus:

Should the occurrence of sickness or major injury occur you will have the ability to pay for your care or for a spouse’s care. The major illness or injury won’t be a family financial disaster as it so often is these days.

More than 1 million Americans insured, under insured or non-insured end up in medical bankruptcy each year.

• Don’t let this happen to you!

• Health Savings Accounts are a major reform long overdue and finally here!

• Make sure you take advantage and tell a close friend!

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