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Kurt Stammberger Profile and Articles
URL: http://www.healthia.com
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1). A Health Savings Account Primer
An HSA is smart savings plan that you use for unanticipated medical expenses. Usually, money that you sock away into the plan comes out of your paycheck before payroll taxes are computed, so that you maximize your savings rate.
2). About High-Deductible Health Plans
So-called “high deductible health plans” are a lot like conventional (PPO/HMO) insurance plans, but they typically have higher deductibles (over $1,000 per year). The idea is that even though the deductible is high, you save so much money from the lower monthly premium costs that the HDHP is a better deal in the long run, when used in conjunction with a tax-free Health Savings Account (HSA).
3). Health Savings Accounts and Taxes
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.
4). How Can I Get Free Health Insurance?
Many children, families and adults qualify for free- or low-cost health insurance, and they don’t even know it! Your ability to get these state- and federally-sponsored medical programs is usually based on the size of your family and your income.
5). How Does Health Insurance Work?
There are lots of different kinds of health insurance. Plan that cover medical services and prescription medicines, plans that cover dental expenses, disability insurance that replaces income lost due to extended illness or injury, long-term care, and so on.
6). Rolling Over MSAs into HSAs
How is rollover of a Medical Savings Account (MSA) into an HSA treated by the federal government for tax purposes?
7). What’s the Difference Between an HMO and a PPO?
HMO stands for “Health-Maintenance Organization.” HMOs provide members with comprehensive care by healthcare professionals under contract, or by their own group practice.
8). What’s the Difference Between an HSA and an HRA?
Healthcare savings account is medical and retirement planning savings account that can be used on a tax-advantaged basis. HSAs were created in Medicare Modernization legislation passed in December 2003.
HRA (healthcare reimbursement account) is an account maintained by an employer to be used to reimburse employees for qualified medical expenses.
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