Fom the ATR website:
We at ATR are proud to support a new bill introduced in the U.S. House of Representatives last week. H.R. 4777, the “Health Savings Act of 2014,” is sponsored by Congressman Michael Burgess, M.D., R.-Texas. Health savings accounts (HSAs) are tax-advantaged accounts that are used to pay for routine, out-of-pocket medical expenses. They are used in conjunction with insurance plans which tend to cover large and/or unexpected health events.
H.R. 4777 makes HSAs more readily available to the public by implementing the following reforms:
Creation of Child HSAs. As a way of saving for the future health needs of children, child HSAs are created with a maximum annual contribution limit of $6,350 (indexed to inflation). Importantly, these HSAs can be rolled out of or into upon the death of a family member. This allows for a kind of prefunding of a child’s anticipated Medicare liability decades before she turns 65.
Read full article here.
Contact Steven Cosby with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.