Planning Possibilities with Health Savings Accounts

Cordell, David M.; Lemoine, Craig
September 2007
Journal of Financial Planning;Sep2007, Vol. 20 Issue 9, p42
Academic Journal
This article attempts to provide a working knowledge of health insurance and health savings accounts (HSAs) in order to shed light on planning opportunities. The article defines an HSA as a tax-exempt custodial account set up with a trustee to pay or reimburse medical expenses, and explains how the definition of a high-deductible health care plan (HDHCP) has changed for 2007, making it more inclusive for the public. An HDHCP is any health care plan with a deductible of at least $1,100 for an individual and a maximum out-of-pocket expense of $5,500. Rule changes made in 2007 have simplified the process of determining how much an individual or family can contribute to these accounts.


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