Health Savings Accounts-2012 Indexed Amounts

Medical inflation continues to rise, so the IRS has rolled out 2012 Inflation adjustments for HSA Health Savings Account.  Maximum allowable 2012 contributions for HSA’s are raised to $3100 (individual), and $6250 for family.  Accordingly, out of pocket maximums for HSA qualified health plans have also risen. Visit our HSA Education page for 2011 contribution information.   Health Savings Accounts – 2012 Indexed Amounts (U.S. Department of the Treasury) 5/16/2011 Part III Administrative, Procedural, and Miscellaneous 26 CFR 601.602: Tax forms and instructions. (Also: Part 1, §§...

read more

Blood & Lab Work Without a Prescription

Laboratory tests is one area that proves the consumer can reduce medical pricing if injected into the purchasing and decision making process. There are many players in the business like DirectLabs and MyMedLab who provide consumers access to transparent pricing, at low cost with high quality service. Consumers always demand the best quality at the lowest price in every industry…..except for health care. In addition to saving on the actual cost of the lab, the consumer no longer has to pay a doctor to write the lab prescription, and no longer has to pay a doctor to read the results....

read more

Prescription Savings

Prescriptions and Rx is another example where transparent pricing has enabled the consumer to drive down prices, and demand higher quality. There are many online companies that provide that lower price / higher quality, and can be found on the Pharmacy discounts page below. Health Savings Accounts have been a major force in the growth of this sector. Online vendors are able to write prescriptions orders for most drugs over the phone or internet.  By having this capability, it eliminates waste, including the cost of seeing a doctor to write the script. This is always a top complaint of...

read more

Keep Your Receipts

Be sure to keep all medical, dental & vision receipts in case your accountant wants to see them, or the IRS in an audit. Visit the Eligible HSA Expenses page to verify that your purchases are included in the IRS approved list of tax-free expenses found in IRS Publication 502.

read more