..::: NEWS RELEASE
..::: APRIL 6, 2005
Health Savings Accounts (HSAs) Ease Tax Burden
NEWPORT BEACH, CALIFORNIA—This year’s tax season presents double
punishment for today’s taxpayer: high taxes and higher health care
costs. The twin threats, according to Americans for Free Choice in
Medicine (AFCM), are related—and a tax provision offers a partial
remedy, just in time for April 15.
“Health Savings Accounts (HSAs) help consumers avoid
both higher taxes and higher health care expenditures,” suggests Richard
E. Ralston, executive director of Americans for Free Choice in Medicine
(AFCM). "The best way to keep both taxes and the cost of health care
down is to keep control of your own health care."
Ralston explains that HSAs, used with low premium,
high-deductible health insurance policies, put health care squarely
within affordable reach of most Americans. Banks, insurance companies,
and mutual fund firms now offer HSAs, which became law in 2004. HSAs
have been heralded by most personal finance analysts as better than the
Roth IRA. Ralston adds another item to the tax policy wish list: an
exemption for every individual’s health insurance premiums.
For now, Ralston advised taxpayers: “Look into
tax-free Health Savings Accounts (HSAs) and liberate your health
insurance premiums from taxes.” Ralston’s health care commentary has
been published in the Houston Chronicle, Orange County
Register and the Washington Times.
Americans for Free Choice in Medicine, (AFCM), was
founded in 1993. AFCM educates the public about the principles of
socialized medicine and free market ideas, such as HSAs and tax reform,
and publishes a consumer's guide on its Web site (http://www.afcm.org).
AFCM is the nation's only educational organization based on individual
rights, personal responsibility, and free market ideas in medicine.
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Copyright © 2005 Americans for Free Choice in Medicine. All rights reserved.
For reprint permission, contact AFCM.