Health Savings Accounts

But what if you could...

• Reduce your premiums by 25% or more? Personally, I reduced my premiums by over 50% and used a strategy that decreased my premiums each year for the past 5 years.
• Bank the money you save and reduce your taxable income? Last year, I reduced my taxable income by $3800. Plus I have that $3800 in a tax-deferred, interest bearing savings account.
• Pay your medical & preventive expenses with tax free dollars? Services like vision, dental, chiropractic, acupuncture and alternative medicine (a few of my favorites).
• Build an additional tax deferred investment account that's exclusive only to this strategy? I'm on track to have an additional $90K and my son over $200K. (Commonly referred to as a medical IRA)

• You own your HSA with complete control.
• Simple to use – No Claim Forms – Keep your receipts.
• HSAs are portable and stay with you – not your job.
• Anyone can contribute (deposit) into your HSA.
• All contributions are tax deductible.
• Use your HSA for current or future medical expenses.
• Tax exempt funds for preventive & alternative care.
• Money you don't spend rolls over year after year.
• No 'Use it or Lose' requirements.
• Earn tax-deferred interest with investment options.
• 55 & older receive extra $1000 'catch-up' contribution.
• At 65, withdraw for any reason without penalties.
• One time transfer from IRA into your HSA.
• Rollover funds from FSA & HRA into your HSA.
• Lower administrative costs for the employer.

Remember, if you are self-employed, your insurance premiums plus your HSA deposits are tax-deductible.

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