THE INSIDE SCOOP ON INDOOR AIR

(Page 4 of 4)

December/January 1998
 
Article Tools
Print
Comments
RSS
Bookmark and Share

Launched in 1997 as a four-year plot program, MSA enrollment is currently limited by the federal government, which places a variable, annual cap on how many policies may be sold (600,000 in 1998, for example) on a first-come, first-served basis. The government has also set the minimum and maximum annual deductibles for MSA policies at $1,500 and $2,250 for individuals, and $3,000 and $4,500 for families. Annual contributions to MSA accounts are restricted as well, to 65% of the annual deductible for individuals and 75% of the annual deductible for families.

RELATED CONTENT

What this all amounts to is, in effect, comprehensive medical insurance with a high, self-insured deductible. You cover the expensive-to-insure "first dollar" of medical expenses with tax-free saved income. Unspent savings are rolled over annually, earning tax-deferred interest (the going rate is 4% to 5%) until age 65. Medical costs over and above your annual deductible are covered by insurance.

This is a little-publicized, rare good deal from Uncle Sam, and — especially if your family has no medical insurance — it may even be worth borrowing to fund the medical savings account. If you work for a small company, ask your employer to consider offering an MSA plan.

If you are self-employed, or simply want to learn more about MSAs, call your local "Blues" medical insurance companies, savings bank, or a general insurance agent. Information is also available from MSA administrators. A couple to try are FlexMSA (800-FLEX-MSA, http://www.flexmsa.com ) and Medical Savings of America, (800-853-7321, http://www.medsavings.com ). — J.V.

Page: << Previous 1 | 2 | 3 | 4 |
Bookmark and Share
RSS | Comments | E-mail | Print

Comments

Add Your Comment

Please note that there is currently a problem with the comments function and your comment may or may not post successfully. We are working to correct the problem and thank you for your patience. 

You can use this comment form to enter your personal experiences or additional information and resources that you'd like to share with Mother Earth News readers. Your helpful advice will be posted on this page.  E-mail addresses are never displayed on comments, but they are required to confirm your comments.

Line breaks and paragraphs are automatically converted — no need to use <p> or <br> tags.

New to Mother Earth News?
Sign up to share comments.
Asterisks(*) indicate required fields.
Name*
Your name appears next to your comment.

E-mail Address*
This will be your login ID.

City State Zip Code

Password*


Confirm Password*

Comments
1500 character limit (Offensive materials and/or spam will be removed, no HTML allowed)
Please Note: Your sign-up must be verified via e-mail before your comment is published.
FEATURED ARTICLES
MOST POPULAR


Subscribe Today - Pay Now & Save 66% Off the Cover Price

First Name: *
 Last Name: *
Address: *
 City: *
State/Province: *
 Zip/Postal Code:*
Country:
 Email:*
(* indicates a required item)
Canadian subs: 1 year, (includes postage & GST). Foreign subs: 1 year, . U.S. funds.
Canadian Subscribers - Click Here
Non US and Canadian Subscribers - Click Here

Lighten the Strain on the Earth and Your Budget

Mother Earth News is the guide to living — as one reader stated — “with little money and abundant happiness.” Every issue is an invaluable guide to leading a more sustainable life, covering ideas from fighting rising energy costs and protecting the environment to avoiding unnecessary spending on processed food. You’ll find tips for slashing heating bills; growing fresh, natural produce at home; and more. Mother Earth News helps you cut costs without sacrificing modern luxuries.

At Mother Earth News, we are dedicated to conserving our planet’s natural resources while helping you conserve your financial resources. That’s why we want you to save money and trees by subscribing through our Earth-Friendly automatic renewal savings plan. By paying with a credit card, you save an additional $4.95 and get 6 issues of Mother Earth News for only $10.00 (USA only).

You may also use the Bill Me option and pay $14.95 for 6 issues.