Health care act may make HSAs more attractive

Description

Abstract: Health Savings Accounts (HSAs) allow a tax-advantaged way to fund health care costs. And the 2010 health care act may make HSAs even more attractive. Why? Because the act sets a higher threshold for deducting medical expenses. This article discusses the threshold, and explains how an HSA can allow a person to save taxes on medical expenses without meeting any threshold and regardless of his or her income level. A chart lists monetary limits for both an HSA and the associated high-deductible health plan (HDHP).