Tuesday, 22 November 2005
Your HSA Questions Answered
The government created Health Savings Accounts in 2003 (launched in 2004) to make consumer-driven health care more attractive – something many people in the capitol think will stem the rising costs of health care.
The real basics on Health Savings Accounts: Most people with a high-deductible health plan (whether it’s their own policy or they get it through an employer) can add an HSA to their existing coverage. The HSA is a savings account that consumers can add to and use the funds from to pay for routine healthcare expenses. If you don’t need to use the money, it stays in the account. All account deposits are tax-free.
Because HSAs are still the new insurance plan on the block, a lot of people either aren’t familiar with them, or have a lot of questions about them.
To address this, the Council For Affordable Health Insurance has put together a list of frequently asked questions to help consumers understand HSAs. You can view all their resources at: http://www.cahi.org/index.asp
Technorati Tags: Health Insurance
