Health Savings Account (HSA): Do I Lose It At the End of Each Year?

The Health Savings Account (HSA) is an amazing tool to reducehealthcare expenses and insurance costs. But do you lose it atthe end of each year, like with a Flexible Savings Account (FSA)?

Thank goodness, no! You do not lose your HSA money at the end ofeach year.

Health Savings Account were created specifically to be BETTER thantheir predecessors, Flexible Savings Accounts (FSA) and Medical SavingsAccounts (MSA).

Your HSA does not have to be used up within the year. In fact,the money can just build and build each year if you don't need it. Itwill be there for your health crisis if that ever happens.

If you never have that health crisis (and I hope that's the case foryou!) then you will have a nice little nest egg built up ofyear-after-year of health savings plus the interest earned.

I really like the term "Health Savings Account." I like itbecause it says that you can save by being healthy. The healthier you are, the more money you'll have left in that accountwhen you retire.

And speaking of retirement, your HSA will act like a nice IndividualRetirement Account (IRA) as soon as you reach age 65. You'll be able towithdraw money without penalty for any reason you wish. (Butyou'll still have to pay tax on withdrawal, just like with atraditional IRA).

My advice to you is put the maximum amount into your HSA everyyear. The money will be there for you if you have a healthcrisis, and it will be there for you in retirement if you manage tostay healthy year-after-year.

Good luck with your healthcare, your health insurance and your HSA!

Daryl Kulak is the author of the book Health Insurance Offthe Grid. This easy-to-read book provides a simple,detailed plan to reduce health insurance expenses by thousands ofdollars for people who are self-employed, unemployed orunderinsured. The book is available at the Website: http://www.healthoffthegrid.com

MORE RESOURCES:

Concepta Insurance Consolidation Facility Receives DOJ Clearance - MarketWatch

Health insurance sticker shock hits consumers - Chicago Tribune

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/1-0fd=Rurl=http://newsblogs.chicagotribune.com/triage/2008/12/health-insuranc.htmlcid=1276133500ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNGB9unv2jlgznMxQ7jKVK9C5ZeBGgHealth binsurance/b sticker shock hits consumers/abrfont size=-1font color=#6f6f6fChicago Tribune,nbsp;United Statesnbsp;-/font nobr11 hours ago/nobr/fontbrfont size=-1Health binsurance/b sticker shock overcame Mickey Trznadel when he opened an envelope from Blue Cross and Blue Shield of Illinois earlier this year, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-1fd=Rurl=http://www.marketwatch.com/news/story/Blue-Cross-Blue-Shield-Michigan/story.aspx%3Fguid%3D%257B5379FA18-BBBE-4084-A40A-AB5CFFB0BDAD%257Dcid=1276133500ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNEgk-UuoWmIe4ze2fZ3bACajf1sNABlue Cross Blue Shield of Michigan Answers Attorney General/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-2fd=Rurl=http://www.mlive.com/annarbornews/news/index.ssf/2008/12/blues_michigan_ag_continue_hea.htmlcid=1276133500ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNEMOk_83vl3YKFbpM3yUy2OMnrAKwBlues, Michigan AG continue health binsurance/b fight/a font size=-1 color=#6f6f6fnobrMLive.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-3fd=Rurl=http://www.mlive.com/kzgazette/news/index.ssf/2008/12/blue_cross_blue_shield_of_mich.htmlcid=1276133500ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNFHOZCR0wmTZzxuxbD5CeLXXJ0TiABlue Cross Blue Shield of Michigan continues push for health b.../b/a font size=-1 color=#6f6f6fnobrKalamazoo Gazette - MLive.com/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/1-4fd=Rurl=http://www.freep.com/article/20081201/FEATURES08/81201068cid=1276133500ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNHPpPAJujGGD1U5eKDYfEY1pfZe5gnobrDetroit Free Press/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/1-5fd=Rurl=http://www.crainsdetroit.com/article/20081201/FREE/812010270/-1cid=1276133500ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNHgTVVSMNub_zqXqK1-rwlcVJz_KAnobrCrain's Detroit Business/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276133500hl=ennobrall 23 news articles/nobr/a/font/div/font/td/tr/table

Morning Rounds Rising Stress Levels, Limited Health Insurance and ... - New York Times

Premiums for workers#39; comp insurance to rise 3% - Seattle Times

Drivers without insurance will have their vehicles towed after Jan. 1 - Dallas Morning News

Prudential PLC eyes AIG#39;s Taiwanese life insurance unit - MarketWatch

RAM Holdings Announces Commutation of $10.6 Billion Par MBIA ... - MarketWatch

Fabian Nunez Joins Zenith#39;s Board of Directors - MarketWatch

State issues finding in Holyoke Medical Center insurance dealings - The Republican - MassLive.com

Fairfax to buy rest of Northbridge for C$686 mln - Reuters

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.reuters.com/article/mnaNewsFinancialServicesAndRealEstate/idUSN0150299520081201cid=1276516603ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNGK_GZe-GHYeHHu8Uxeq92fdRz92QFairfax to buy rest of Northbridge for C$686 mln/abrfont size=-1font color=#6f6f6fReutersnbsp;-/font nobr47 minutes ago/nobr/fontbrfont size=-1Fairfax said it expected Northbridge President and Chief Executive Mark Ram to remain in charge of the Canadian binsurance/b operations. b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.marketwatch.com/news/story/Northbridge-Fairfax-Announce-Privatization-Offer/story.aspx%3Fguid%3D%257B0A513448-3272-4E3F-8D0C-251C2F23FFA7%257Dcid=1276516603ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNE67KOBRMmetOOB-WARY1tHRgs6QQNorthbridge and Fairfax Announce Privatization Offer/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-2fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601082%26sid%3DacOweNniPPE4%26refer%3Dcanadacid=1276516603ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNF0p75B4ltdo6Xc6BUx12QjskKwegCanada Stocks Decline, Led by EnCana Corp., Financial Shares/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-3fd=Rurl=http://business.theglobeandmail.com/servlet/story/RTGAM.20081201.wfairfax1201/BNStory/Business/home%3Fcid%3Dal_gam_mostemailcid=1276516603ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNH8nG0E0zIXJKN_OFeZGX3TfuZphgFairfax to take Northbridge private/a font size=-1 color=#6f6f6fnobrGlobe and Mail/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/9-4fd=Rurl=http://www.tradingmarkets.com/.site/news/Stock%2520News/2058427/cid=1276516603ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNGy_xr-5SibNetb8t4NjHxwowxorQnobrTrading Markets (press release)/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/9-5fd=Rurl=http://www.680news.com/news/business/more.jsp%3Fcontent%3Db1201167Acid=1276516603ei=xM40Sai_L5nK8ASr_Zj-AQusg=AFQjCNGXnyNlcida28cVgWu1Y2scVtUcGwnobr680 News/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276516603hl=ennobrall 62 news articles/nobr/a/font/div/font/td/tr/table

Insurance - Google News

RELATED ARTICLES

Group Term Life Insurance and the Options Available
Group term life insurance is more affordable than individual life insurance policies because the costs to the insurer are lower. They have less paperwork to handle, and are guaranteed multiple accounts from one sale - which is their incentive for offering this type of policy.

Long Term Care Insurance
Long Term Care Insurance is needed in the event that a person becomes physically disabled, terminally or chronically ill. Healthcare will pay for doctor bills, hospital bills and some prescriptions, but healthcare will not pay for nursing home care or in-home nursing care.

How Many Homeowner Insurance Quotes Do I Need To Save Money?
Homeowner insurance quotes can vary in the amount they cost you based on a variety of factors - many that you can control. There are of course some variables that are common among all house insurance policies.

Insurance Claim Handling Online - TPA Adjuster System
Claims management and administration software systems enable insurance claims adjusters, supervisors, and managers to process incidents and administer claims more efficiently and at a lower cost than traditional paper file and transport methods. Some areas that are made more efficient, thus lowering costs, are otherwise insufficient tracking and handling of medical provider billing (especially with medical bill repricing) and proper compensation scheduling.

Facts About Renters Insurance
If you rent an apartment or house, you might consider purchasing renters insurance.Renters insurance provides coverage for damage or loss of personal property for people in rental housing.

Choosing Buy-To-Let Property Insurance
Risk is an area often overlooked by landlords, but failing to protect the main assets of your business, which often have borrowings secured against them could lead to ruin.Landlords often fail to understand the types of insurance risks that they are exposed to and are unaware that insurance coverage for buy-to-let investments is very different to the standard household insurance policies that cover owner-occupied dwellings.

What Are The Differences Between A Cancellation Notice And Non-renewal Notice?
OK, you take that stroll down to the mailbox excitedly as you do everyday hoping to find the catalogue with all that neat stuff you want to buy or to find that magazine you love to read or to find that big check Uncle Bob sent! Come on, you know you love getting mail and really look forward to this daily ritual. You know that Mr.

Insurance for Those Who Run Bed and Breakfast Properties
A Bed and Breakfast, often referred to as a B&B, is a private residence with several rooms of which are set aside for overnight guests whose paid accommodations include breakfast. Modern Bed and Breakfast often consciously tries to recall earlier days - they are generally established in charming older houses which have been refurbished and adorned with antique furniture.

Home Insurance: Premium Protection In Case Mishap Takes A Rain Check
My whinstone house my castle is, I have my own four walls.This is truth for every home owner.

Finding Fast Life Insurance
Since the widespread growth of internet usage and database building it's never been easier or quicker to find fast life insurance. There was a time not long ago that the project could drag out forever.

How Can I Compare Life Insurance Quotes?
The online life insurance companies offer a free service where you can request a free quote for your life insurance needs. This enables you to compare life insurance quotes to see where you can save money with one over the other.

The Life Insurance Quote Business is Booming, but is the Insurance Quote Accurate?
The life insurance quote business online is booming. Not only are life insurance agents quoting a more diverse portfolio of companies, but consumers are also now able to quote life insurance online for themselves.

Outside Pressures On The Typical Insurance Adjuster
Insurance adjusters are not without outside pressures they must deal with every day of their work life. It would be advantageous for all readers to be aware of the most important of these because they could put money in your bank.

Cheap Car Insurance
Finding good car insurance can be very difficult. Here are a few tips:Try a few different insurance companies.

Eleven Money-Saving Auto Insurance Tips for Senior Drivers
Following a few simple tips and taking these measures will ensure that you are getting the lowest rates possible on your auto insurance policy.1.

Is Your Financial Security at Risk?
The topic of insurance is not sexy by any means. Perhaps that's why so many people avoid addressing it.

Need Low-cost Temporary Family Health Insurance?
Many families will find themselves without medical coverage at some point in their lives. So, what do you do if you find yourself in this situation? Here are some thing that you should consider when purchasing quality, low-cost temporary family health insurance.

How To Negotiate A Settlement With An Insurance Claims Adjuster
You and I. M.

Car Insurance Rates - Can You Lower Them?
Car insurance rates are prohibitive nowadays. Many families really struggle to pay the car insurance bill each month.

Photography Insurance-Insurance for the Photographer
Part and parcel of establishing your own photographic business is establishing your own legal entity. This means establishing yourself for taxes.