HSA for America partners with nation's CPAs

    /24-7PressRelease/ - February 02, 2006 - HSA for America announced today a new initiative to help CPAs share the benefits of health savings accounts (HSAs) with their clients.

"As more Americans become aware of the lower premiums and tax savings that Health Savings Accounts offer, more will be coming to their CPAs with questions about these plans", says Wiley Long, President of HSA for America. "People look to their CPAs to show them how to save on taxes. Yet most CPAs are not health insurance agents, and may not be that familiar with these plans."

Partner CPAs receive a special 38-page report covering all the details on how HSAs work, including innovative strategies to lower costs and maximize tax benefits. They will also have access to instant quotes on insurance plans that are qualified to work with HSAs, a comprehensive list of HSA administrators where their clients can establish their HSA, and an HSA hotline where they can get their questions answered. HSA for America will also be establishing an online database where consumer can locate an accountant in their area who is knowledgeable about HSAs.

Health savings accounts have been available since January 1, 2004. They allow individuals with an HSA-qualified health insurance plan to pay for routine health care needs with tax-free dollars deposited into health savings accounts. Funds not used in a given year can be rolled over to the following year. The money grows tax deferred, and can be withdrawn penalty-free after age 65.

The rapid adoption of HSA plans has been spurred by two financial incentives: lower health insurance premiums, and lower income taxes. Because they have higher deductibles, HSA-qualified plans are typically 30% to 40% less expensive than traditional plans. HSA holders may also deposit up to $5,450 into their account each year, taking a full tax deduction on the deposit.

These accounts have proven to be a popular health insurance option: according to a recent survey conducted by America's Health Insurance Plans (AHIP), which represents 1,300 insurers and health plans across the United States, more than three million individuals are now enrolled in a health savings account.

"Accountants are in a perfect position to educate their clients about the tremendous benefits that HSA plans offer", says Long, "The interest in these plans is exploding. We're look forward to continuing to build mutually beneficial relationships with those in the accounting community."

HSA for America is a nationwide brokerage firm specializing in individual and family health insurance plans that are qualified to work with Health Savings Accounts. HSA for America represents many different insurance companies, offers instant quotes, online applications, and comparisons of HSA administrators.

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