Health Savings Accounts

If you are considering changing your health insurance
policy, you should be aware of the alternative of a
Health Savings Account (HCA).

Health Savings Accounts became available
(And legal) in 2004, enabling people with
high-deductible insurance policies to set aside
tax-free money to fund medical expenses up to the
maximum amount deductible.

If you do not have to use the funds, turns
each year. Once they reach the age of 65 who are no longer
required for the use of medical expenses, even though
certainly, you can withdraw funds at the same
conditions as a regular IRA.

Although it will be penalized if you use the funds
for non-medical expenses before age 65, you can use
money for vision care, alternative medicine or
dental treatment and care.

In 2008, an individual can finance up to $ 2,900 of taxes
free. The maximum deductible is $ 1100 and the
of-pocket maximum would be $ 5,600.

For a family, the maximum tax-free contribution is
$ 5,800 with a maximum deductible of $ 2,200 and the
of-pocket maximum would be $ 11,200.

Savings are certainly a viable way to
shelter income while providing insurance against catastrophes
coverage in light of the high cost of low deductibles
health insurance plans.

For healthy people, it deserves an investigation. Consult
with your insurance agent for full details
participation of this approach to managing your insurance
needs.