46 Years Experience

U.S. State  Licensed Agent/Broker

HEALTH SAVINGS ACCOUNTS

WHO WINS?

· THE YOUNG, HEALTHY AND SINGLE PEOPLE:

   Lower health costs translates to bigger tax-free savings accounts.

·  HEALTH INSURANCE COMPANIES: Coverage does not kick in until after the self-insured deductible has been satisfied.

· THE EMPLOYER: Employee Self-Insured/Deductible plans equal lower Employer premiums.

· ALTERNATIVE MEDICINE USERS AND MAKERS:  TAX-FREE medical savings accounts can be used for most any medical or dental related expenses, even doctor-prescribed dietary supplements.

· THE UNINSURED:  Price cuts will lure some employers or employees who can’t afford “TRADITIONAL”   state directed minimum benefit plans to participate in a Self-Insured/Deductible Health Insurance program that may include a FIRST DOLLAR HSA pre-tax investment account.

       HEALTH SAVINGS ACCOUNTS

      WHO LOSES?

· DIABETICS AND OTHERS WITH CHRINIC MEDICAL CONDITIONS:  Frequently out-of-pocket expenses make savings difficult.

· FAMILY WITH YOUNG CHILDREN: If the deductible is not waived for preventive care, co-pay plans may be cheaper.

· PEOPLE IN LOWER INCOME BRACKETS: This group has less money to set aside and will receive little to no TAX benefits for establishing an HSA.

· THE ELDERLY:  Costly prescription drugs could outweigh premium savings.

· THE U.S. TREASURY:  This TAX exempt program will cost the federal government $173.6 BILLION over 10 years.  This fact suggests there will be a large group of Health Saving Account participants and winners.

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