Released on = December 31, 2005, 1:48 pm

Press Release Author = Benefits Boutique

Industry = Small Business

Press Release Summary = Health Savings Accounts (HSAs), give the self-employed and
older individuals a great new way to pay less for affordable health insurance. But
they are not for everyone.
Affordable health insurance expert Mike Chapman from BenefitsBoutique.com explains
when Health Savings Accounts make sense.

Press Release Body =
FOR IMMEDIATE RELEASE
Dallas, Texas
12/30/2005


Health Savings Accounts--An Affordable Health Insurance Solution for Older
Individuals or the Self-Employed?

Health Savings Accounts (HSAs), are a new way for the self employed and for
individuals to obtain affordable health insurance. They also allow you to pay for
your health, dental and vision care expenses with \"pretax dollars.\"
But they are not a good deal for everyone. Affordable health insurance expert Mike
Chapman explains when and how Health Savings Accounts can help you save on health
insurance and taxes.

Mike Chapman is a self-employed businessman with a family of six. He figures his
health savings account and medical savings account have saved his family over
$10,000 in taxes and $15,000 in lower health insurance premiums over the last four
years.

Says Chapman, \"I gambled when we opened our HSA that we could stay healthy. That
helped us save on our health insurance premiums and invest it in our HSA. Every
dollar we put in the HSA we took as a tax deduction. But if a family member had
gotten ill, I don\'t know how I would have met our insurance plan\'s $5000
deductible.\"

\"But now, we have enough in our HSA to cover health care emergencies, and it is
growing tax-free like an IRA. Now we use it to pay for dentist checkups with
pre-tax dollars.\"

Chapman, the president of www.BenefitsBoutique.com, a nationwide online insurance
agency specializing in affordable health insurance for the self employed, tells his
clients when Health Savings Accounts and high deductible health plans make sense:

First, family members should be fairly healthy, requiring few doctor visits or meds
on an ongoing basis. Families with infants might want to stick with a traditional
plan that offers doctor visit and prescription copays that are absent in high
deductible health insurance plans.

Second, you must be able to afford the risk of higher medical expenses for about a
year and a half until you have enough money in your HSA.

The most important factor is that you must be a disciplined saver. Chapman
recommends automatic contributions into an HSA, at least until there is enough in
the account to cover the insurance plan\'s deductible. \"If you\'re not a saver, then
don\'t bother with a HSA and high deductible health plan,\"

No one health insurance plan fits all. But for the self employed, and especially
older adults, HSAs are a great way to save on health insurance premiums and on
taxes. \"The older you are, the more you can save with one of these plans,\" Chapman
states. \"We have clients in their 50s and 60s across the country who are not
eligible for Medicare that this is the only way they can afford quality health
insurance.\"

#####

Arrange an interview with Michael Chapman for more insights into this topic:

Michael Chapman
mtchapman@BenefitsBoutique.com
http://www.BenefitsBoutique.com
Direct Line: (888) 398-6246
Other helpful information can be found at: http://www.BenefitsBoutique.com.








Web Site = http://www.BenefitsBoutique.com

Contact Details = Michael Chapman
mtchapman@BenefitsBoutique.com
http://www.BenefitsBoutique.com
Direct Line: (888) 398-6246
Other helpful information can be found at: http://www.BenefitsBoutique.com.