Medical Savings Accounts ( MSAs ) are an excellent way of paying for health care and saving money. They provide considerable tax savings while reducing healthcare costs. Patients are free to choose their own doctors. MSAs can also be used to supplement income at retirement or in case of disability.

   A Medical Savings Account is a tax-exempt account in which you accumulate savings to pay for medical expenses. Contributions and income earned on funds in the MSA are 100% TAX FREE. An MSA allows you to enjoy tax reductions while having affordable premiums and decreasing your out of pocket expenses without risking your insurance protection.

Who is eligible? Self-employed individuals.

   Does the fund increase tax-deferred? Your savings accumulate from year to year if you don't need or use them for medical expenses. You earn interest, which is tax-deferred on your entire balance with a minimum balance of $750. At age 65 you can use your funds for non-medical reasons, without tax penalties.

   Is the plan convenient? There is a company that provides both your health plan and your MSA resulting in seamless disbursement of your funds. And, there are no administrative, set-up or user fees.

   You choose how you want to spend your health care dollars. There is a broader range of health care services eligible for health expenses not typically paid by most health plans such as:

• Eyeglasses
• Dental care
• Chiropractic care
• Alternative medicine
• Braces

   What are the tax advantages? Contributions are tax-deductible, qualified withdrawals are tax-free, and earnings are tax-deferred. At age 65, accumulated funds, including interest, can be withdrawn for non-qualified expenses, without tax penalties.

   Are withdrawing funds easy? MSA funds can be withdrawn to include but not limited to, tax-free and penalty free, to pay your health insurance deductible, qualified medical expenses and long term care insurance.

Our associates are ready to assist.

With Kindest Regards,
Bob Puckett