Title: SBA and Health Care
Author: unknown
Reference: http://sba.gov/healthcare/ April
20 2006
Presenter: Christopher Kent
Although there is much controversy over whether health care is moving in the
right direction, or moving anywhere at all, getting the facts street about one
type of national insurance is what this article is about. Health Savings
Accounts, or are a reform act brought into congress and passed by George W. bush
in December of 2003. They offer small business owners and their employees'
new options in health care.
Health Savings Accounts can save small business owners up to 40 percent in health
care costs. Some small business owners, who previously couldn’t offer health
care to their employees, can do so now through Health Savings Accounts. Small
business owners switching to Health Savings Accounts from other, traditional
health care coverage plans can save money to buy new equipment and grow their
businesses.
Essentially, a Health Savings Account is a big savings fund that can be used
to pay for medical expenses incurred by individuals, their spouses or their dependents. Individuals,
their employers, or both can contribute funds each year to HSAs. Contributions
are tax free. Interest and investment earnings are tax free. Withdrawals for
qualified medical expenses are tax free. These three tax free money options
can be used if you have a metical emergency.
