[Editor's Note: In his preliminary analysis of this emerging subject in A&FP's August 2004 edition, Rick Stieglitz noted several key advantages of HSAs for employees: the account accumulates tax-free growth; funds are immediately available for qualified medical expenses; any unused remainder at year's end carries over, rather than being lost; and an employee's account is portable to another employer.
Health Savings Accounts: Recent Improvements
The federal government is bending over backwards to simplify, liberalize and encourage the use of Health Savings Accounts (HSAs). In a recent announcement, for example, the Treasury Department detailed just how easy it is for banks to offer HSAs to their customers. Recent guidance from the IRS has tried to allow as many taxpayers to qualify as possible.
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Richard H. StieglitzThis premium content is locked for Accounting and Financial Planning for Law Firms subscribers only
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