Health savings accounts have some advantages by Rachel Schwab, product marketing manager at The Equitable Bank
While the politicians in Washington fight over how to reform health care, individuals and business owners are dealing with ever-escalating medical costs. Employers continue to look for ways to reduce their cost of medical insurance while still providing medical benefits to their employees. Many employers are choosing to go the route of Health Savings Accounts (HSA). The HSA was created as part of the 2003 Medicare Act and have gradually become a viable alternative to traditional health care plans.
An HSA can be opened for anyone who has high deductable health insurance. That means that for 2009, the annual deductable cannot be less than $1150 for individuals and $2300 for families.
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