· Resources: Health Savings Accounts (HSAs)

     Health Savings Accounts (HSAs) became available January 1, 2004 via the passage of the Medicare Prescription Drug, Improvement and Modernization Act of 2003 as a way to help individuals save for qualified medical and retiree health expenses on a tax-free basis.

     Be sure to check out the following links for more information about HSAs:
     * All About HSA's from the U.S. Dept. of the Treasury [05.17.05] [PDF]
     * HSA Brief Analysis from Nat'l. Ctr. for Policy Analysis [01.15.04] [PDF]
     * HSA/FSA/HRA Comparison Charts from Groom Law Group [12.05.03] [PDF]

     [ For the most current HSA technical guidance, visit this website at the U.S. Department of the Treasury. ]

     What kind of groups are using HSAs? Groups aiming to improve their benefit plans with HSAs include employers:
        · with employees who currently pay a significant portion of the premiums
        · who already have multiple benefit plan options
        · with higher paid professional employees
        · who have no other choice but to pass more of the medical plan's cost on         to their employees
        · who are self-funded and want to provide the same self-funding advantage         to their employees
        · who are 'top heavy' and can't qualify for other flexible benefits
        · who want to get serious about curbing long term increases in their medical         plans
        · who want to focus on improving the health of their employees and thus         the productivity of their organization
        · who have many of their employees covered by other insurance or         Medicare
        · who want to have different benefits for different categories of employees
        · who want to lower their costs
        · who want to improve employee morale
        · who have upcoming union negotiations
        · with employees who have maxed their 401(k) contributions and would like         to save more tax free dollars
        · who are considering offering multiple benefit options
        · who want to attract and retain high quality employees
        · who want to take advantage of consumer driven health plans

     If HSAs seem like a possible solution to your health coverage needs, feel free to contact our office or stop by to find out more.