5th November 2009, 05:19 PM
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Senior Member
Join Date: Feb 2008
Location: California
Posts: 163
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Health Savings Accounts (HSA's)
Just wanted to alert people to the existence of Health Savings Accounts (HSA's). If you're a member of this site, chances are you have a ton of health care expenses. HSA's may be a way for you to get substantial tax breaks (US only) on your out-of-pocket expenses. In short, HSA's allow individuals and families with high deductible health plans ($1,200 for individuals, $2,400 for families in 2010) to deduct dollar-for-dollar for out-of-pocket health care expenses up to the maximum contribution amount ($3,050 for individuals, $6,150 for families in 2010). This amount does not include your insurance premium which is 1/2 deductible already. In addition, persons at least 55 years of age get additional deductions. If you're interested, please check out the following link:
http://www.ustreas.gov/offices/publi...SAs_072208.pdf
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