Tax Season Tip: It’s Not Too Late to Contribute to a Health Savings Account and Maximize Your 2015 Tax Savings
HSAcenter.com helps consumers maximize the advantages of an HSA with
tips and interactive tools that educate about tax benefits for 2015 and
guide health care savings planning in 2016
INDIANAPOLIS–(BUSINESS WIRE)–As the tax filing deadline approaches, consumers with health savings
accounts (HSAs) are reminded that they have until Monday, April 18, to
make 2015 contributions up to the legal limit and increase their tax
savings. This year’s deadline is a departure from the traditional April
15 filing date.
To help the growing number of consumers who have HSAs either through
their employer or purchased individually, www.HSAcenter.com
recently expanded and enhanced its features to help them better
understand the power of HSAs and the potential cost and tax savings.
HSAs combine a high-deductible health insurance plan with a tax-favored
savings account. Money in the savings account can help pay deductibles
and other qualified health expenses, including those not always covered
by a major medical plan, such as dental and vision care costs. There is
no “use it or lose it” provision at the end of the year with an HSA –
the money saved earns interest and continues to accumulate year over
year.
HSAs also deliver triple tax benefits:
1. Contributions are 100 percent tax-deductible up to the
annual limit, just like an IRA, so contribute the maximum amount. For
2015, that’s $3,350 for an individual and $6,650 for a family. Those
over 55 can make an additional contribution of $1,000/year.
2. Account interest accumulates over the years
tax-deferred, allowing consumers to decide when to spend and when to
save.
3. Withdrawals are tax-free as long as they are used for
qualified medical expenses, even in retirement.
Dedicated to HSA education and helping consumers gain greater control
over their health care, HSAcenter.com now includes:
-
Responsive design and navigation: For convenience, HSAcenter.com
can now be accessed from a laptop, tablet or mobile device, and a new
video serves as a guide to the site. -
New search functionality: It’s easier than ever for consumers
to find what they are looking for on the site. -
Three interactive calculators: Estimating savings now and in
the future happens in a snap with three
enhanced calculators. -
Case studies: “People
Like Me” case studies illustrating how families have benefitted
from HSAs, helping consumers get even more from a visit. -
Detailed FAQ: Find answers to the most frequently
asked questions and reference an updated list of qualified
medical expenses.
HSAcenter.com was designed to help consumers learn more about HSAs and
how they work, and features user-friendly tools that allow them to
estimate the cost- and tax savings – now and over time – before deciding
if an HSA is the best choice for their families. HSAcenter.com is
presented as an educational resource by UnitedHealthcare’s Golden Rule
Insurance Company and UnitedHealthcare Life Insurance Company, which
offer health insurance plans and ancillary products to individuals and
families.
About UnitedHealthcare
UnitedHealthcare
is dedicated to helping people nationwide live healthier lives by
simplifying the health care experience, meeting consumer health and
wellness needs, and sustaining trusted relationships with care
providers. The company offers the full spectrum of health benefit
programs for individuals, employers, military service members, retirees
and their families, and Medicare and Medicaid beneficiaries, and
contracts directly with more than 850,000 physicians and care
professionals, and 6,000 hospitals and other care facilities nationwide.
UnitedHealthcare is one of the businesses of UnitedHealth Group (NYSE:
UNH), a diversified Fortune 50 health and well-being company. For more
information, visit UnitedHealthcare at www.uhc.com
or follow @myUHC on Twitter.
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Contacts
UnitedHealthcare
Ellen Laden, 317-715-7843
Director,
Public Relations
eladen@unitedhealthone.com
