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Health Savings Accounts Put You in Control of Your Healthcare










Fort Collins, CO (PRWEB) July 26, 2006

As Health Savings Accounts grow in popularity, there is growing fear among those who want to nationalize healthcare that they will not be able to put the cat back in the bag. There are already over 3 million HSA owners, and by 2010, the Treasury Department estimates as many as 45 million Americans will be covered by HSA plans. They will have billions of dollars invested to cover future medical expenses, and by then it will be politically impossible to take that benefit away.

With a high-deductible health insurance plan, money is invested tax-free into a Health Savings Account. There are different types of investments to choose from — anything from savings accounts or money market funds, to stocks, bonds, and mutual funds. Invested wisely, an account could accumulate over $ 500,000 by retirement. That money can be used to pay for healthcare, tax free. And best of all, it affords the freedom of choice when paying for healthcare.

If proponents of a single-payer system were to ever have their way, individuals would be at the mercy of a government bureaucrat when it comes to their healthcare. To see what this might look like, all one has to do is look at the state of health care in Canada, England, New Zealand, and the parts of Europe that have not yet abandoned single-payer systems.

Proponents of a single-payer system tend to point to Canada or England as countries that cover all their citizens with quality healthcare, while spending less money per person than the U.S. But if we look a little closer, we see that these publicly financed health insurance systems are breaking down, the quality is low, and the costs can be quite high. Here’s what Canadians have to deal with if they need medical care:


Long waits. Hundreds of Canadians go to Detroit and other U.S. cities every year for procedures like CAT scans, which they can obtain treatment in a matter of days. In Canada, the wait is typically six months. Currently 876,000 Canadians are on waiting lists for medical procedures.

Difficulty in getting life-enhancing procedures done. If a Canadian is having a heart attack, they will be treated right then. But if the surgery is considered “elective” (meaning that possible death is not eminent), the wait could be months or years. Average wait for cataract removal is 18 months. Average wait for a knee replacement is one year.

Increased risk of dying. The average Canadian waits eight weeks to see a specialist, and another nine weeks before getting treated. This is even the case with conditions that are likely to get much worse if there is any delay in treatment. For example, the median time for a mastectomy is 14 weeks, enough time for the cancer to spread to other parts of the body. In fact, 28% of those diagnosed with breast cancer in Canada die from it, while the mortality ratio in the U.S. is only 25%.

Things don’t look any better across the ocean. Each year the British National Health Service cancels 410,000 surgeries because of resource shortages. According to the London Sunday Times, there are currently over 1 million Brits awaiting elective surgery. Thomas Cook, a British travel agency, is even considering offering “sun-and-surgery” packaged trips to Indian hospitals for British citizens fed up with low standards and long waiting times for surgery.

The British and Canadian governments have the power to make healthcare “free”, but they are unable to control its costs. So the costs become longer (and potentially fatal) delays, and fewer innovations.

It’s not surprising what is happening. Universal health insurance systems always encourage over-consumption by patients, and such over-consumption always leads to financial crises. The result is inevitably broken promises about universal access and quality care. Because there are always limited resources, single-payer systems tend to overspend on primary care for the healthy, while denying more expensive specialist care to those with serious medical problems. This is because most people (voters) are healthy most of the time, and the sick and dieing are less likely to be able to organize into a political force.

What makes the United States such a great country is the “freedoms” we enjoy. Though our freedoms seem to be constantly under attack, there is still no nation in the world that has the freedom of the press, freedom of religion, freedom of association, or the free markets that we have in the United States. As anyone who understands even a smidgen of economics knows, free markets encourage competition and innovation, which lead to lower prices and better quality.

Though the U.S. system of health care can not really be considered a “free-market”, it is certainly much more free than any single payer system. Some of the benefits we see as a result of our current healthcare system include:

U.S. medicine produces the best outcomes for virtually every patient, from premature babies to elderly cancer patients.

American companies are the chief source worldwide of new treatments and procedures which each year are used to save millions of lives.

U.S. medical training and research facilities are the best in the world.

Though Canadians might have to wait a year or two for hip replacement surgery, they can get the same operation done on their dog in less than a week. This is because veterinarians are competing for that business, finding innovative ways to deliver service more quickly and less expensively. Another example is laser eye surgery, a procedure that is rarely covered by insurance, so laser eye surgeons must compete on the basis of cost and quality. While costs for most medical procedures have been going up every year, the cost for this procedure has dropped by 80% over the past decade.

Unfortunately, U.S. healthcare policies still tend to limit competition, restrict consumer’s freedom to choose, and discourage consumers from shopping for value. Thus, there are too few choices and there has been little attention paid to price and quality of service. The answer is clearly not more government intervention, but instead letting competition and the power of the marketplace drive down prices and increase quality and access to care.

Health Savings Accounts are the Solution

There is increasing recognition that third-party health insurance payers are actually a major cause of escalating medical costs and the decline in the quality of service. The increasing adoption of HSA plans has already begun to cause greater transparency and competition in the medical marketplace. There are now physicians available by phone, medical kiosks setting up in malls, doctors that accept only cash (and charge significantly less), and others competing directly for the consumer’s healthcare dollar.

Don’t be fooled by the politicians who advocate a single-payer system, claiming their only concern is the uninsured. If a single body (such as a government bureaucracy) controls healthcare, they control one seventh of the national economy. And everywhere in the world that central control of the economy has been tried, it has been a colossal failure.

As public policy reforms centered on individual choice continue to gain wider footholds, the result will be greater prosperity, greater choice, and a better value for all. The culture of dependence and entitlement will begin to fade, as millions of individuals demand further policy reforms that will reinstate the values of freedom and personal responsibility that helped establish this great nation.

As more consumers turn to health savings accounts, the market will respond. Innovative providers will begin to compete more on price and quality of service, and those that provide the best value will get wealthy doing so. And all consumers will benefit.

By Wiley Long – President, HSA for America (http://www.health–savings–accounts.com). HSA for America makes it easy for people to learn about and set up health savings accounts that best meet their needs at the lowest premiums available. “The Complete Consumer’s Guide to HSAs” report is also available to download.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Tax-free IRA Rollover Increases Demand for Health Savings Accounts (HSAs)











Fort Collins, CO (PRWEB) December 17, 2007

Last year’s “Tax Relief and Health Care Act of 2006″ had several provisions that have made it easier to open and fund a Health Savings Account (HSA), including the option of a one-time tax-free rollover from an IRA into the HSA. This change has contributed to the end-of-the-year surge of HSA applications according to leading health insurance broker HSA for America.

“We’re getting a tremendous number of inquiries from people who want to know how they can fund their account with money from their IRA,” said HSA for America President Wiley Long. “HSA-qualified health insurance plans have high deductibles of $ 1,100 or more. By doing a tax-free rollover from their IRA, individuals can immediately fund their account so that the deductible can be covered 100%. That basically removes the risk of going with a high-deductible plan.”

Health Savings Accounts are special tax-favored savings accounts that anyone with a qualified high-deductible health insurance plan can open and fund. Any money put in the account is tax deductible, and can be used tax-free to pay for future medical expenses. If the money is not withdrawn, it continues to grow tax-deferred like an IRA. HSAs first became available in January 2004, and today nearly eight million people are covered by an HSA-qualified health insurance plan.

“HSA plans have much lower premiums than traditional co-pay plans, but they do have a higher deductible. Medical expenses that someone incurs before they meet their deductible can be paid for from the HSA, but if they’ve just opened their HSA they may not have had enough time to accumulate much money in it. The tax-free IRA rollover solves that problem,” said Long.

Both IRAs and HSAs are special tax-favored accounts that can be funded with tax-free money, and that grow tax-deferred. But HSAs have an additional tax advantage over IRAs: if the money is withdrawn to pay for qualified medical expenses, taxes never need to be paid on those funds. This makes HSAs a much preferred way to save for future medical expenses, according to Long.

“According to Fidelity Investments, the average couple retiring in 2007 will need over $ 200,000 to cover medical expenses, not even counting dental, over-the-counter medications, or long-term care. And that amount is going up every year. Those who have an HSA could have thousands of additional dollars available to them to cover these expenses in their retirement years.”

To help people who are buying their own health insurance understand these changes, HSA for America is hosting weekly HSA teleseminars throughout the rest of 2006. “If someone can get their coverage in place before December 31, they can lock in 2007 rates for the next 6 – 24 months, and they can get a tax deduction for contributions made before April 15th.”

The teleseminar is offered to registered participants at no charge. For more information on the teleseminar and how to sign up, please visit our Health Savings Account Teleseminar page.

About HSA for America

HSA for America is the nation’s leading independent health insurance firm specializing in individual and family coverage that works with a Health Savings Account. Through our comprehensive website ( http://www.Health–Savings–Accounts.com ) we offer complete information on Health Savings Accounts and qualifying health insurance plans. We offer instant quotes, online health insurance applications, and access to several banks that can act as an HSA administrator for your account.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Tax-free IRA Rollover Increases Demand for Health Savings Accounts











Fort Collins, CO (PRWEB) December 19, 2006

The recently passed “Tax Relief and Health Care Act of 2006″ has several provisions that make it easier to open and fund an HSA, including the option of a one-time tax-free rollover from an IRA into the HSA. This change has already caused a great increase in interest among the self-employed and other individuals who purchase their own health insurance, according to leading health insurance broker HSA for America.

“We’re getting a tremendous number of inquiries from people who want to know how they can fund their account with money from their IRA,” said HSA for America President Wiley Long. “HSA-qualified health insurance plans have high deductibles of $ 1,100 or more. By doing a tax-free rollover from their IRA, individuals can immediately fund their account so that the deductible can be covered 100%. That basically removes the risk of going with a high-deductible plan.”

Health savings accounts are special tax-favored savings accounts that anyone with a qualified high-deductible health insurance plan can open and fund. Any money put in the account is tax deductible, and can be used tax-free to pay for future medical expenses. If the money is not withdrawn, it continues to grow tax-deferred like an IRA. HSAs first became available in January 2004, and today nearly five million people are covered by an HSA-qualified health insurance plan.

“HSA plans have much lower premiums than traditional co-pay plans, but they do have a higher deductible. Medical expenses that someone incurs before they meet their deductible can be paid for from the HSA, but if they’ve just opened their HSA they may not have had enough time to accumulate much money in it. The tax-free IRA rollover solves that problem,” said Long. “I expect that by sometime in 2007 sales of HSA plans will eclipse co-pay plans as the preferred type of health insurance among individuals purchasing their own plans.”

Both IRAs and HSAs are special tax-favored accounts that can be funded with tax-free money, and that grow tax-deferred. But HSAs have an additional tax advantage over IRAs: if the money is withdrawn to pay for qualified medical expenses, taxes never need to be paid on those funds. This makes HSAs a much preferred way to save for future medical expenses, according to Long.

“According to Fidelity Investments, the average couple retiring in 2006 will need $ 200,000 to cover medical expenses, not even counting dental, over-the-counter medications, or long-term care. And that amount is going up every year. Those who have an HSA could have thousands of additional dollars available to them to cover these expenses in their retirement years.”

To help people who are buying their own health insurance understand these changes, HSA for America is hosting weekly teleseminars throughout the rest of 2006. “If someone can get their coverage in place before December 31, they can lock in 2006 rates for the next 6 – 24 months.”

The teleseminar is offered to registered participants at no charge. For more information on the teleseminar and how to sign up, please visit our Health Savings Account Teleseminar page.

About HSA for America

HSA for America is the nation’s leading independent health insurance firm specializing in individual and family coverage that works with a Health Savings Account. Through our comprehensive website we offer complete information on HSAs and qualifying health insurance plans. We offer instant quotes, online health insurance applications, and access to several banks that can act as an HSA administrator for your account.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Health Savings Accounts Even More Attractive Thanks to Congress










Fort Collins, CO (PRWEB) December 13, 2006

Health Savings Accounts (HSAs) received a boost this weekend when the U.S. Congress gave final approval to H.R. 6111, the “Tax Relief and Health Care Act of 2006″. The additional incentives should greatly improve the popularity of HSAs, particularly among individuals and families purchasing their own health insurance, according to leading health insurance broker HSA for America.

“HSA plans are already the best health insurance value for just about anyone who is paying for his or her own health insurance,” said HSA for America President Wiley Long. “They lower premiums, provide immediate tax reductions, and make it easier to save for medical expenses during retirement. These changes will result in HSA plans eclipsing co-pay plans as the primary choice among small business owners, independent contractors, and anyone who’s self-employed or does not have employer-provided coverage.”

Health savings accounts are special tax-favored savings accounts that anyone with a qualified high-deductible health insurance plan can open and fund. Any money put in the account is tax deductible, and can be used tax-free to pay for future medical expenses. If the money is not withdrawn, it continues to grow tax-deferred like an IRA. HSAs first became available in January 2004, and today nearly five million people are covered by an HSA-qualified health insurance plan.

Long said the legislation contains several improvements to the already popular HSA program that will make HSA plans the most popular type of coverage in the near future.


It allows people to fund their HSAs with a one-time transfers from their Individual Retirement Accounts (IRAs). Because funds withdrawn from an HSA to pay medical expenses are never taxed, an HSA is a much more tax-advantaged investment than an IRA. This provision will enable someone to quickly maximize their contribution, so that they can fully cover the deductible on their high-deductible health insurance plan.

The bill allows individuals with HSA-qualified policies to contribute up to the annual contribution limit ($ 2,850 for individual coverage and $ 5,650 for family coverage in 2007), even if their deductible is less than this amount. Until now, policyholders with smaller deductibles were penalized because they were not allowed the same tax benefits as those with larger deductibles.

Allows individuals to make the maximum contribution to the HSA, regardless of when the HSA plan began. Taxpayers who purchase an HSA plan later in the year will still be allowed to make the full HSA contribution, instead of a pro-rated portion as is currently the case. This will enable them to completely cover their deductible with funds from the HSA if they have some large medical bills, and also gives them the same tax benefits as someone who purchased the plan earlier in the year.

“I expect very few people will continue to purchase health insurance plans with co-pays once they understand how easy and inexpensive these plans now are”, said Long. “HSA plans can already reduce a family’s annual expenses by several thousand dollars.

Long says HSA for America, which markets HSA-qualified plans to individuals and families, is currently expanding in anticipation of a growing surge of interest in health savings accounts in 2007. “We’ve already had a lot of people calling us about these changes, and have started hosting weekly teleseminars to share this information and answer questions from curious consumers.”

The HSA for America teleseminar is offered to registered participants at no charge. For more information about the Health Savings Account Teleseminar and how to sign up, visit: http://www.health–savings–accounts.com/teleseminar.htm

About HSA for America

HSA for America is the nation’s leading independent health insurance firm specializing in individual and family coverage that works with a Health Savings Account. Through our comprehensive website we offer complete information on HSAs and qualifying health insurance plans. We offer instant quotes, online health insurance applications, and access to several banks that can act as an HSA administrator for your account. Visit http://www.health–savings–accounts.com for complete information.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Find More Insurance Fort Collins Press Releases

New Teleseminar From HSA for America Helps Consumers Understand Health Savings Accounts










Fort Collins, CO (PRWEB) November 9, 2006

Over 3 million people are now covered by health insurance plans that work with Health Savings Accounts (HSAs), and many more are rushing to sign up for one before January 1 in order to lock in their tax savings for 2007. Because these plans are still relatively new, there is still some confusion about how they work. So HSA for America is putting on a teleseminar titled, “Is an HSA Right For You?”. The teleseminar is scheduled for Friday, November 10 from 3:00 p.m. to 4:00 p.m. EST.

“This teleseminar is designed to help the person who is purchasing their own individual or family health insurance plan make an informed decision” said Wiley Long, President of HSA for America. “Because of the lower premiums, the tax savings, and the potential to save for future medical expenses, HSA plans have become extremely popular among people who are buying their own individual plans. Callers will learn how HSA plans work, how to calculate their premiums, and how to calculate their income tax savings.”

Health Savings Accounts are special tax-favored accounts where anyone with a qualifying high deductible health insurance plan can put aside tax-free money to pay for future medical expenses. The money can be used for virtually any type of medical expense, and money left in the account rolls over and grows tax deferred like an IRA. The teleseminar will cover:

– How HSA plans compare to conventional co-pay health insurance

– How to use your HSA to build a Medical Retirement Account

– How an HSA can make all medical expenses tax-deductible

– When an HSA can be used to pay for alternative care like acupuncture or homeopathy

– The types of HSA-qualified health insurance plans available

– How to choose a plan and apply for coverage

– How to establish a health savings account

The HSA for America teleseminar is offered to registered participants at no charge. For more information about the Health Savings Account Teleseminar and how to sign up, visit: http://www.HSAforAmerica.com/teleseminar.htm

HSA for America is the nation’s leading independent health insurance firm specializing in individual and family coverage that works with a Health Savings Account. Through our comprehensive website we offer complete information on HSAs and qualifying health insurance plans. We offer instant quotes, online health insurance applications, and access to several banks that can act as an HSA administrator for your account. Visit http://www.HSAforAmerica.com for complete information.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Find More Insurance Fort Collins Press Releases

Tax Benefits of Health Savings Accounts Lure Consumers, Businesses










Fort Collins, CO (PRWEB) December 10, 2007

Many people are rushing to get a Health Savings Account in place before the end of the year in order to lower their 2007 taxes. These tax-favored accounts, which have only been available since January of 2004, can be opened by anyone with a qualifying high-deductible health insurance plan. Once you open an account, you can place tax-deductible contributions into it, which can then be used later to pay medical expenses. Any money not used grows tax-deferred, like an IRA.

Health Savings Accounts offer many tax advantages over traditional health insurance arrangements. Here are 10 ways Health Savings Accounts offer tax savings:

1) Reduce your federal income taxes. Regardless of your income level or how your income was earned, any money you deposit into your Health Savings Account is considered an “above-the-line” deduction, giving you a 100 percent write-off against adjusted gross income.

2) Reduce your adjusted gross income, helping you to qualify for other lucrative tax breaks tied to overall income.

3) Reduce your state income taxes. All states except four (AL, CA, NJ, and WI) offer a tax deduction for Health Savings Accounts.

4) Tax-deferred growth. Like funds in an IRA, the money in your account grows free from federal taxes.

5) Pay for dental expenses with pre-tax dollars.

6) Pay for vision care with pre-tax dollars.

7) Pay for alternative care with pre-tax dollars, including chiropractic, acupuncture, homeopathy, ayurvedic medicine, herbal medicine, or any number of other so-called alternative treatments.

8) Pay for aspirin, bandages, cold medicine, and other household medical expenses with pre-tax dollars. A list of HSA qualified expenses is available from HSA for America at: http://www.health–savings–accounts.com/qualified-expenses.htm

9) Pay Medicare expenses with pre-tax dollars, including Medicare premiums, deductibles, copays and coinsurance.

10) Pay for long-term care insurance with pre-tax dollars.

A Health Savings Account (HSA) enables anyone with a qualifying high-deductible health insurance plan to shelter up to $ 5,650 from federal income taxes. HSA-qualified health insurance must be in place by December 31, 2007, in order to benefit your 2007 tax return. By reducing your adjustable gross income, enabling you to pay for medical expenses with pre-tax income, and through tax-deferred growth, HSAs can reduce your income taxes in at least 10 ways.

About HSA for America:

HSA for America is a nationwide brokerage firm specializing in individual and family health insurance plans that are qualified to work with Health Savings Accounts. HSA for America represents many different insurance companies, offers instant quotes, online applications and comparisons of independent HSA administrators. Visit us online at: http://www.health–savings–accounts.com

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Find More Insurance Fort Collins Press Releases