Since first being signed into law in December 2003 by the Federal Government, Health Savings Accounts are already a proven “hit” & are here to stay. They are literally available to every legal adult in the United States.
Knowledge is power when it comes to your finances. Medical Insurance has now become the newest form of an investment vehicle offering tremendous financial & tax benefits. Today, opening a Health Savings Account in partnership with an HSA qualified health insurance plan offers many special financial advantages. And for the most part, they are simple to understand.
A Health Savings Account enables consumers to:
· Maintain access to a wide PPO network and in most cases provides coverage for seeing your current doctors and specialists.
· Lower your health insurance premium by 25% – 50%. One can typically save between 80 to 250 dollars per month when they change their plan over from a traditional health insurance plan to a HSA qualified high deductible health plan. Now don’t be deceived. Yes, you’ll now have a high deductible, but there are plenty of safety nets to protect you if necessary. The first step to take is to place monies saved from your new lower premium into your Health Savings Account. This doesn’t cost you anymore than what you were paying before…you are just putting the money in a new place.
Next, enjoy IRS created HSA triple tax advantages. Reduce annual out-of-pocket income taxes up to $2,000. Save EVERY year on taxes from here on out. Below are your three main tax saving pillars.
- Contributions to your HSA are 100% tax free.
- Interest on all of your account investment gains are also 100% tax free.
- The type of investments are your
choice and range from low-interest, no risk, lower bank rates to the widest range of stocks, bonds, & mutual funds. The level of risk is up to you.
Visit www.BestHealthcareRates.com
for your free instant health insurance quote!
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