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..::: NEWS RELEASE
..::: APRIL 14, 2004
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 new tax law offers a partial
remedy, just in time for April 15.
"The best way to keep both taxes and the cost of
health care down is to keep control of your own health care," suggests
Richard E. Ralston, executive director of Americans for Free Choice in
Medicine (AFCM). “Recent tax code provisions for Health Savings Accounts
(HSAs) help consumers avoid both higher taxes and higher health care
expenditures.”
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,
mutual fund investment firms—even ehealthinsurance.com—now offer
HSAs, which took effect in January. Ralston cites new proposals that may
actually improve the tax code.
“While President Bush has expanded government
intervention in medicine, he has made one decent proposal: tax exemption
for the cost of every individual’s health insurance premiums,” Ralston
noted.
But, for now, Ralston advised today’s weary
taxpayers: “Look into tax-free Health Savings Accounts (HSAs) and fight
to liberate your health insurance premiums from the tax.” 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.
# # #
Copyright © 2004 Americans for Free Choice in Medicine. All rights reserved.
For reprint permission, contact AFCM.
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