Navigation Links
Laboring Without Health Insurance? HSAs May Be an Affordable Option
Date:8/18/2008

MILWAUKEE, Aug. 18 /PRNewswire/ -- For years, Labor Day has meant picnics, watermelon, softball games and kids having fun. But for millions of working people, it also could rekindle memories of the old days when having a job meant they didn't have to worry about health insurance. Times are changing and HSAInsights.com can help.

Today, employment no longer guarantees health insurance coverage, especially in small businesses. The National Coalition on Healthcare reports that one-third of firms in the U.S. (and almost two-thirds of small businesses) did not offer coverage in 2006. Nearly 1.3 million full-time workers lost their health insurance the same year, bringing the total number of uninsured workers in this country to 37.7 million.

The good news for these workers and others, including those who are self-employed or retired, is that they now have more affordable options to get the coverage they need. Many are choosing to purchase high-deductible health plans with health savings account (HSAs), which have much lower premiums than traditional health insurance and give people greater control over how they spend their health care dollars.

"For families with about $1,500 in annual medical expenses, an HSA can often save them more than $6,000 a year," said Scott Krienke, senior vice president, individual markets, for Assurant Health, a leading provider of HSAs.

More than 6.1 million Americans have already opened HSA accounts. In addition to lower premium costs, there are several reasons for their popularity. First, they allow you to save money in a tax-free account, like an IRA, to pay for routine medical expenses. Your contributions (up to $5,800 for families in 2008) are tax deductible and you pay no tax on withdrawals for qualified medical expenses.

Second, your HSA funds are completely portable and roll over from year to year -- even if you change jobs, take a job that doesn't offer insurance, start your own business or retire. You can also pay for any qualified medical procedure without having to get it specifically approved, regardless of any pre-existing conditions. You can use your HSA account during retirement to pay for health care, Medicare expenses and prescription drugs.

Could you benefit from an HSA? One way to find out is to go to the Web site HSAInsights.com. This site was designed to help you understand the basics of HSAs and to provide resources and tools for making smart choices. It even includes a calculator to estimate how much you can save with an HSA compared to a traditional health plan and determine its potential future value based on your expected contributions and expenses.


'/>"/>
SOURCE HSAInsights.com
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Congress and the President Must Act to Secure Peace of Mind for Americas Laboring Families
2. Rare case explains why some infected with HIV remain symptom free without antiretroviral drugs
3. New Technique Removes Gallbladder Without External Incisions
4. Gallbladder removed without external incisions
5. Menopause: Hot Flashes Can Be Reduced 90% without Hormones
6. Treating ADHD Symptoms Without Medication: Free Special Report Examines Alternative ADHD Treatments
7. Families with children without a genetic or gestational link to their parents are functioning well
8. AUDIO from Medialink, Eli Lilly and the American Association of Clinical Endocrinologists: Dont let Natural Disasters Leave you Without Needed Medications
9. Invest in a future without dementia
10. Children learn smart behaviors without knowing what they know
11. Modulated radiotherapy can cut treatment time for cancer of the rectum without increasing toxicity
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/21/2017)... ... May 21, 2017 , ... For more than 20 years ... wide range of knives and swords, from functional to fantasy. United Cutlery has always ... sleek, modern designs that defy tradition. , Offering a range of weapons and tools ...
(Date:5/21/2017)... ... May 21, 2017 , ... Dental visits are often ... since you've seen a dentist, it's time for a dental checkup. The American ... per year. , Dental checkups are a relatively easy procedure that involves visually ...
(Date:5/19/2017)... Charlotte, NC (PRWEB) , ... May 19, 2017 ... ... of the Charlotte health community, Queens University of Charlotte recently began recruitment efforts ... The program’s curriculum arms students with the skills, knowledge and expertise to approach ...
(Date:5/19/2017)... Mo (PRWEB) , ... May 19, 2017 , ... When ... May 20, his name will already appear on two major research studies that could ... been working with Dr. Matt Daggett, KCU alumnus and an orthopedic surgeon, alongside an ...
(Date:5/19/2017)... ... May 19, 2017 , ... The Hill Agencies, a family ... entrepreneurs throughout the California Central Valley, is announcing a joint charity initiative with the ... for a local kid’s camp event. , The Boys and Girls Club of Kern ...
Breaking Medicine News(10 mins):
(Date:5/6/2017)... Provista , a proven leader in the supply chain industry ... Jim Cunniff as the company,s new president and CEO. ... Provista, including most recently serving as the president and CEO ... He assumed his new role with Provista on May 1, ... says Jody Hatcher , president, Sourcing and Collaboration Services ...
(Date:5/4/2017)... Clarius Mobile Health, a digital healthcare ... this week at the American Congress of Obstetricians ... San Diego, CA from May ... perfect tool for clinicians to easily confirm pregnancy, ... pregnancy-related complications like ectopic pregnancy and placenta previa," ...
(Date:5/3/2017)... 3, 2017 A Catheterization Laboratory is ... healthcare facility. Commonly referred to as cath lab, ... diagnostic imaging technology to give physicians visual access ... these spaces, a team of physicians perform life-saving ... coronary intervention, congenital heart defect closure, stenotic heart ...
Breaking Medicine Technology: