By Sue Shekut, Owner, Working Well Massage, Licensed Massage Therapist, Certified Wellness Coach, ACSM Personal Trainer
Aside from the upcoming New Year’s Eve parties, what is January 1 is a great time for you to do? At many companies and for the self-employed especially, January 1 is a great time to open a (Health Savings Account). Today I stumbled upon a great article that really explains Health Savings Accounts far better than I can. Link here to Do One Thing: Open an Health Savings Account. from Bundle.com. Kate Ashford makes many great points about HSA’s and explains that you can open one in about 30 minutes. In a nutshell, Kate says HSA’a are great for younger, healthier people, especially men, and those not on Medicare. As a small business owner, health insurance is a big expense for me. By bundling a high deductible health insurance plan with a tax-free health savings account, I get better coverage on any serious illnesses, injuries or lab work, but I can pay for many wellness expenses that are not covered by traditional care plans. And the money I save in my HSA continues to grow each year if I don’t spend it–tax free. Not a bad deal if you can spare the 30 minutes to set it up!
Read more of Kate’s blog and articles on personal finances and health at MyTwoCents.com. I like her writing style and enjoy her posts. according to her blog, Kate worked at both Money and Good Housekeeping, Kiplinger’s Personal Finance and Entertainment Weekly. Kate has also appeared on CNN, ABC, CBS and local New York TV stations, as well as several radio shows. Kate has a bachelor’s degree in sociology from the University of Virginia and a master’s degree in journalism from Northwestern University.
- Your Answer to Skyrocketing Health Costs (fool.com)
- Basics of Health Savings Accounts (turbotax.intuit.com)
- Why a Health Savings Account Makes Sense (visualeconomics.com)
- ZocDoc Insurance 101: Health Savings Accounts (zocdoc.com)
- Health Savings Accounts: A Tax-Savvy Way to Get Coverage (online.wsj.com)
- Health savings accounts make insurance sense for many (usatoday.com)
- Don’t Forget a Doctor’sNote Under New Law (foxnews.com)
- J.P. Morgan Announces a Health Savings Account Broker Program (visualeconomics.com)
- Health Savings Accounts (HSAs) Still Offer Great Value to Consumers (eon.businesswire.com)
- High Deductible Health Plan Supplements (theinsurancebarn.wordpress.com)
- Survey: Health Savings Accounts Pick Up Steam But Remain A Small Part Of Health Insurance Market (medicalnewstoday.com)
- Health Savings Accounts Saves Businesses Money (visualeconomics.com)