New Web Site Helps Consumers and Employers Make Smart Choices on Health Savings Accounts (HSAs)

www.HSAInsights.com an Invaluable Resource for Millions Who Want the Tax Benefits of this Popular, Affordable Health Insurance Option in 2008

Milwaukee—December 4, 2007/PR NEWSWIRE/—Consumers looking for ways to lower their taxes in 2008 should consider taking advantage of health plans with health savings accounts (HSAs) that offer both medical coverage and tax benefits. A new Web site, www.HSAInsights.com, provides consumers and employers with information and guidance on how to select an HSA that's right for their needs.

HSAInsights was designed to help individuals, families, employers and retirees understand the basics of HSAs and to give them resources and tools for making smart choices. According to the America's Health Insurance Plans' data released in April this year, more than 4.5 million Americans already have HSAs a—43 percent increase over 2006. That figure is expected to continue to rise as more people become aware of HSA's benefits.

"Health plans with HSAs offer protection and a tax-free way to invest—all at a cost that usually is less than what purchasers would pay for a traditional plan," said Roy Ramthun, founder/president of HSA Consulting Services and a former senior health policy advisor to President George W. Bush who helped lead the U.S. Treasury Department's implementation of HSAs. "For families with about $1,500 in annual medical expenses, an HSA can often save them more than $6,000 a year."

The new HSAInsights Web site features detailed charts that show individuals and families how much they could save with an HSA compared to a typical health plan. It includes an interactive HSA calculator for users to determine the potential future value of their HSAs based on their expected contributions and expenses.

It also has practical tips on selecting an HSA provider such as:

Work with a company that understands health insurance and has considerable experience with HSAs.
Consider costs, interest rates and investment options.
Look for a provider able to provide insurance plans, claims and HSA information in one comprehensive package. "HSAs are for everyone who needs protection and wants to save for unexpected—and expensive—medical emergencies," said Scott Krienke, senior vice president, individual markets, for Assurant Health, a leading provider of HSAs. "HSAInsights answers their commonly asked questions to help them make good decisions."

"I would recommend HSAs to anyone who wants to put money away—tax-free—for future health needs or retirement," said Pam Wimbish, the first person to own an HSA. "For me, HSAs are a no-brainer."