The benefits of health care savings accounts
In 2003, President Bush signed new legislation into law that established health savings accounts. These new health savings accounts are a way to combat the problems with high health care costs in the United States. And they will help helth care become more consumer driven. These accounts are much like IRA’s and it is very important for everyone to understand them and use them to their advantage.
A health care savings account is what the name says - a savings account for health care. You can invest money into the account and those contributions are 100% tax deductible for almost everyone. You invest the money as you wish just like any other IRA. It gains interest or capital gains like any other savings account or IRA and these earnings are tax free also! The money can be withdrawn to then pay for medical expenses - including your Ameriplan Health® Benefits and discount dental membership fees! Withdrawals from these accounts can be done easily with a check or debit card. Many people qualify for these accounts. Any money put into the account stays there and is rolled over year to year - you never lose it (You own it!) The idea behind health care savings accounts are to replace the traditional flex accounts in which you lose the money that you don't use each year at the end of the year. It is highly recommended to use your Ameriplan® membership in conjunction with the health savings accounts to equal big savings with your tax deduction. Your Ameriplan® membership fee and other fees you pay for your health costs can be taken from this account. It is the hope that these accounts will allow more free market activity into the health care and drive costs down while allowing patients the ability to choose their own doctors and not be restricted by health care insurance.
The health care savings account is a good idea for people struggling with health care costs. As mentioned discount health plans like Ameriplan® offer you savings without the pricey costs of traditional medical or dental insurance. With a health care savings account you will be investing in yourself and not paying fees to a company that restricts which doctors you can visit.
Another opportunity to maximize your savings and lower your overall health care cost is to supplement your Ameriplan Health® discount plan with High Deductible or Catostrophic health Insurance.
Back Home
| 
