Health Savings Accounts
  The average taxpayer finally gets a break!

  What is a Health Savings Account?
   Health Savings Accounts used to be called MSAs or Medical Savings Accounts. The
   MSA was only allowed for self employed individuals and families.  Now anyone can
   have an HSA and save on taxes.

   Think of the HSA as a two part insurance vehicle.  The first part is the high deductible
   major medical insurance plan. The other is the "cash" side which is funded separately
   than the insurance side.  You don't have to put money into the  "cash"  side till you are
   ready.  Any money deposited is deducted from your gross income at  tax time  and is
   not taxed when taken out to pay for eligible medical expenses.  Never taxed !
   
  What are some other benefits of a Health Savings Account?
   Health Savings Accounts or HSA's allow a family to have only one deductible instead
   of per person deductibles. Lots of family plans are sold around the $2500 deductible.    Families go to this deductible to make the health insurance plan fit their budget. Only    problem is, if three family member have a bad year medically the out of pocket could    range from $7,500 to $13,500 depending which coinsurance option they have on the    plan.

   With an HSA, the family deductibles range from $3,000 to $9,900 depending on the
   insurer you choose. If one family member meets the deductible the rest of the family
   is on 100% healthcare. This is assuming the 100% coinsurance option, which is the
   most popular. Individual deductibles range from $1,250 to $5,150 depending on which    company and plan is chosen.

   You are not required to fund the HSA, even without funding it your family still enjoys just
   one shared deductible rather than having individual deductibles to meet.

   Eligible medical expenses range from the normally expected, doctor office visits and
   prescription drugs to the unexpected, like dental work and eyeglasses.