The Changing Health Savings Account Landscape
Posted on February 6th, 2011
President Obama acknowledged health savings accounts by including them as one of his policy proposals. Health savings account (HSA) plans are associated with the lower premiums of high-deductible health insurance policies.
The attraction of low premiums is integral to the increase of employers switching to HSA plans for their employees. According to Tower Watson and the National Business Group on Health’s 2010 survey, 83 percent of businesses have already or are planning to change the health care they offer.
Employers are fighting the sky-rocketing cost of health care in the U.S., which is growing by approximately double the rate of inflation.
Tags: Account, Health Savings, Health Savings Account, Savings Account
No Comments »
Can A Health Savings Account Work For You?
Posted on January 19th, 2011
When you’re shopping for health insurance, a health savings account (HSA) offers several advantages that can save you more than typical plans.
There are two big benefits to HSA Plans. Since a Health Savings Account is combined with high-deductible health insurance, you can get lower premiums than with plans that have low deductibles. You can also grow your Health Savings Account balance in a tax-free way.
While you’re building your savings with an HSA, you can accumulate the cash to pay for a high deductible if necessary, and the reduced premiums will help.
If you don’t have to use your HSA to meet the deductible on your health insurance, this cash can grow tax free to be used for retirement.
Tags: Account, Health Savings, Health Savings Account, Savings Account
No Comments »
Health Savings Account Deposits Top $1 Billion for Single Bank
Posted on August 30th, 2010
United Health Group Inc., now one of the Twin Cities’ largest banks, has seen its OptumHealth Bank top the $1-billion mark for deposits on its books, and it’s all due to Health Savings Accounts. By the end of June, its Health Savings Account deposits were at $1.025 billion. Chartered in Salt Lake City and part of Minnetonka-based UnitedHealth, UnitedHealth has helped thousands of employers to set up Health Savings Accounts for their employees.
There is a growing trend for employers to offer employees these tax-advantaged Health Savings Accounts in combination with high-deductible health care plans. T
Tags: Bank, Health Savings, Health Savings Account, Savings Account
No Comments »
Can A Health Savings Account Help You Bridge Employment Gaps?
Posted on August 26th, 2010
Health Savings Accounts may have been stifled by complex regulations, but these accounts can do much more than just turn your healthcare bills into tax deductions. With unemployment a constant threat, health savings accounts help people maintain coverage between jobs, and even into retirement.
Anyone under 65 can start a Health Savings Account once they buy a qualified high-deductible health insurance plan. That’s an insurance plan with a deductible of at least $1,050 for individuals or $2,100 for families. These plans mush also have a limit of $5,250 for an individual and $10,500 for a family on their out-of-pocket costs.
Tags: Employment, Health Savings, Health Savings Account, Savings Account
No Comments »