Deductible Wikipedia
March 17th, 2009
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Question: What experience have you had with medical savings accounts for self employed (MSA)?
We are looking at “self employment,” or retirement. A high Deductible Medical insurance seems our most likely avenue for health insurance. We’d like to pay for it with pre-tax dollars. We both participated in cafeteria plans while fully employed.
(I already read the Wikipedia article on the subject, so please don’t post it again.)
Answer: For individuals, whether self-employed or not, I’d suggest a Health Savings Account (HSA) qualified plan. The HSA account is funded pre-tax, it rolls over year after year, the growth is tax differed, and money comes out tax free for nearly anything medical. The better high deductible insurance policies will pay for everything 100% after deductible. When you go to the doctor the amount you pay (which can come from the HSA account) goes toward your deductible.
You’ll want to read the IRS publication 969 for information concerning the tax treatment of the MSA and HSA plans. You should also visit a local independent agent for more assistance. The agent can explain everything fully and can also find the best insurance plan for your situation and budget.
Items on Amazon Right Now for Deductible Wikipedia:
Google Gives $2 Million To Wikimedia Foundation
Courtesy of Google, the nonprofit Wikimedia Foundation has received a significant gift. Google donated $2 million to the organization, which is responsible for keeping Wikipedia up and running. Mitch Kapor, who’s on the Advisory Board of the Wikimedia Foundation, announced the contribution late yesterday on Twitter. Jimmy Wales followed up soon after with a tweet of his own soon after …
RESPONSIBILITY #105 Wikipedia on Responsibility
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