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Savings: Health Savings Account
built 290 days ago
Health Savings Accounts were created in 2004. They allow anyone who has qualifying high deductible insurance to fund a Health Savings Account that is 100% tax-deductible. The money can be used tax-free for medical expenses, and if it's not used, it rolls over year to year. At age 65, the money can be used like a retirement plan, or still saved for future medical expenses.
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HSA Bank serves customers in every state in the nation and is one of the first financial institutions nationwide to offer health savings accounts. In 2006, HSA Bank was named to the Kiplinger's Personal Finance "The Best List" as the "best health savings account." HSA Bank combines convenience, service and savings with low account maintenance fees, high interest rates, investments, 24-hour account access online or through an automated telephone system and outstanding personal service. For more information about HSA Bank, visit the HSA Bank website at http://www.hsabank.com/.
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ALEXANDRIA, Va., March 19 /PRNewswire-USNewswire/ -- Some states have insurance laws that conflict with the requirements for Health Savings Accounts (HSAs) and hinder insurers' ability to offer HSA-compatible policies. Some of these laws include mandating coverage of certain benefits below the deductible amounts specified in HSA rules and not exempting the money deposited in HSAs from state taxes.
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"Over the last decade of providing medical and health savings accounts, we have seen the average balance of an account increase by ten percent each year it is open," said Kirk Hoewisch, president of HSA Bank. "We expect the trends we have seen in the past ten years to accelerate based on the increased savings potential created by the Health Opportunity Patient Empowerment Act of 2006."
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"Huntington is excited about Health Savings Accounts because they are something better," said Guy Molde, senior vice president of deposit products for Huntington. "There is no other financial product that provides so many benefits to companies that offer them to their employees and individual consumers."
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Health Savings Account