Health Savings Accounts Are Still Popular after Healthcare Reform
Posted on July 22nd, 2010
All the recent changes in health care haven’t reduced the popularity of Health Savings Accounts. In fact, employers are offering Health Savings Accounts more often as a less expensive way to cover employees. According to America’s Health Insurance Plans, more than 10 million individuals enjoy the tax-free interest and tax-deductible healthcare expenses that come with Health Savings Accounts.
Why are Health Savings Accounts appealing to more people? With the rising cost of healthcare, the high-deductible health insurance plans that work with these savings accounts typically keep premiums low. Preventive care and wellness check-ups are not subject to a deductible, though, so it’s still easy to get physicals and mammograms. T
Tags: Health Savings, Health Savings Accounts, Popular, Savings Accounts
No Comments »
Health Savings Accounts Offer State Tax Deductions
Posted on July 18th, 2010
Health Savings Accounts can give you generous tax deductions on your Federal income tax, but what about your state income tax?
States choose whether they comply with Federal guidelines for Health Savings Accounts, but most states do offer deductions. You can check your state HSA deductions to see whether your state allows deductions for contributions to Health Savings Accounts.
In addition to tax deductions, Health Savings Accounts can help you save on insurance premiums because they are combined with high-deductible health insurance plans. High-deductible plans typically offer much more reasonable premiums.
To save even more, you can find Health Savings Account insurance plans with less than 100 percent coverage.
Tags: Deductions, Health Savings Accounts, Savings Accounts, Tax Deductions
No Comments »