Archive for March, 2009

Health Savings Accounts and Taxes

Saturday, March 14th, 2009

Kurt Stammberger asked: HSAs have a "triple" tax advantage from a federal tax standpoint. Individuals receive full tax advantages for HSAs on their Federal Income Tax return (or through a salary reduction program in certain employer-sponsored settings) regardless of particular state's tax treatment of HSAs.An account beneficiary may take an ...

Tax Deductible Health Savings Account

Tuesday, March 10th, 2009

Tom Noonan asked: If you have a high-deductible health insurance plan, you should be eligible for a tax deductible health savings account. What this means is that you can set up a savings account (yes, you get paid interest) to deposit money into each year. Since I am single, I ...

Michael Moore’s Sicko Should Have Considered Health Savings Accounts

Saturday, March 7th, 2009

Wiley Long asked: Michael Moore's new movie SICKO is a humorous and at times emotionally moving look at the state of U.S. healthcare, but it promotes a solution (government healthcare) that would only make matters worse. Instead of more bureaucracy and government control, we should be encouraging competition among healthcare ...

Tax Considerations Of Texas Health Savings Accounts

Friday, March 6th, 2009

Pat Carpenter asked: Since Health Savings Accounts (HSAs) were created by the Medicare bill signed into law in 2003 they are being considered by more and more Texans as a health insurance option. Anyone under age 65 who buys a qualified high-deductible health insurance policy can open an HSA. Here ...

Health Savings Account (HSA)

Tuesday, March 3rd, 2009

Janani asked: HSA is designed and introduced to reduce the health care cost for both employers and employees. Health savings account (HSA) is tax privileged savings plans offered to taxpayers in the United States to deposit money to cover current and future medical expenses.HSA provides tax-free savings account for medical ...

Control your Health Destiny

Sunday, March 1st, 2009

rimi jaiswal asked: Health Savings Accounts or HSA’s are growing in popularity. Currently, it is estimated that there over 3 million HSA owners, and by 2010, the Treasury Department estimates as many as 45 million Americans will be covered by HSA plans.So what is an HSA, and how can it ...