“We must confront the rising cost of healthcare, we will strengthen HSA’s making sure individuals and small business’ employee’s can buy insurance with the same advantages that people working for big businesses might get.” 

President Bush 2006
State of the Union Address 

HSA’s are a relatively new way for Americans to pay for their health insurance. 

They work like IRA’s, the money deposited into HSA’s is completely tax deductible (families can contribute up to $5,950 in 2010 and individuals up to $3,000) on your federal and state returns. 

These accounts can be accessed to pay for qualified health care expenses. In the mean time, the money deposited earns tax-free interest for future medical costs.

HSA's

• Savings up to 50% off your health insurance premiums
  
  
• Individual health insurance coverage with financial freedom
  
  
• Your money can be invested in stock/bonds and mutual funds
  
  
• Money saving tax deductions for HSA Contributions up to 100% of your deductible
  
  
• Almost everyone qualifies
  
  
• Money can be withdrawn via debit card to pay for qualified medical expenses with no penalties
  
  
• Give your employees an instant benefit by contributing to their HSA accounts (No set dollar amount no set time limits)
  
  
• Your contributions continue to grow year to year tax free

Here’s how it works in a nutshell: Take the money currently spent on high cost health insurance and split it like this: Put a portion towards low cost higher deductible policy and deposit the rest in a tax deductible HSA.