Health Savings Accounts - Dealing with the Headaches
In 2004, the Health Savings Account program was signed into law to help relieve the pain cause by high deductible health insurance plans. As premiums skyrocketed back in the early 2000's, the "semi" cost effective way of dealing with higher out-of-pocket expenses was by opening a tax-deductible account earning tax-free interest when used for a qualified medical expense. Over the last 15 years there have been many changes to HSAs so this annual update is a necessity when it comes to keeping up with the latest rules and regulations.