Feb 24 2008
HSA, again
HSA is Health Savings Account. It isn’t a health insurance, but a plan - saving a/c - that can be funded by pre-tax dollar pay for your qualified health expenses. Anyone can make contribution that includes yourself, your employer or a generous friends, parents, relatives. There is a ceiling as how much you can contribute each year. For 2007, individual caps at $2,850 family at $5,650. The un-used portion of your contribution can roll over to the next year. It depends on which bank is managing your HSA account, the bank that does mine also offers mutual fund investment choices, aside from money market. I know Americans are sick when it comes to taxes, be it income tax, real estate tax, .. .. they make it so complicated. Let’s not argue the merit of HSA. Since it is here, may as well use it. I like the concept.