Understanding HSA's Medical Insurance Plans
Posted on Tue, Jan 19, 2010
HAS's are a great supplemental tool that can be used to enhance certain medical insurance programs. Some of the advantages to an HSA are the fact that the balance and any subsequent earnings on the account are tax deferred and if you use any of that money for medical expenses it is tax-free. This allows for you to obtain a High Deductable Health Plan, or an HDHP, as you will be able to use your HSA to help pay your deductable. What this will accomplish is a lower monthly premium for you to pay. You can also continue to accumulate the money from year to year in your HSA and if you are retired it can actually be used to supplement your income after all medical expenses are paid.
Read more: HSA Medical Insurance Plans