What is a HSA

An HSA (Health Savings Account) is a tax-free account you can use to cover your health care expenses if you have a qualified high deductible health plan.
What are experts saying about HSAs?

  • US Secretary of the Treasury John Snow "...HSAs are a terrific option that I think every American ought to consider."
  • Reuters: Linda Stern "...could be the best savings vehicle yet. These are going to be a huge deal. They're like a flex spending account on steroids; they're better than an IRA."
  • Wall Street Journal: Martin Feldstein "...may well be the most important piece of legislation for 2003."
  • Washington Post: Albert B. Crenshaw "...the fist universally available savings accounts that are tax-free at both ends."
  • Inc. Magazine "401K for health care costs...help take the sting out of ever-rising insurance premiums."
  • CNNMoney: Amy Feldman and Peter Carbonara "As it has in every other business, advocates say, competition in health care will give rise to better service and -- just as important -- will slow skyrocketing costs."
  • MSNBC: Linda Stern "Savers can accumulate money in their HSAs for decades and then use it for retirement. If they use them for medical care, ever, they are tax-free."
  • Bloomberg: Gregory Taggert "..The single most significant transformation that can be made in saving the country from skyrocketing health costs."
  • American Health Value: Michael Berry "Such plans allow workers and their employers to pay sharply lower premiums and plow the savings into an HSA rather than give that money to the insurance company month after month."
  • Galen Institute: Greg Scandlen "They have the potential to become the dominant kind of health care financing in the next five to ten years"

 


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