PAR ENTERPRISES, INC.

  State of the Art Health Care Insurance Plans for Individuals and Families are Offered by the UnitedHealthcare/Golden Rule
Insurance Company


NO SURPISE THAT THE GOVERMENT'S RECENT TAX DEDUCTION AND INCENTIVES WITH THE "HEALTH SAVINGS ACCOUNT" OR HSA IS CREATING A LOT OF ATTENTION AS THERE ARE SIGNIFICANT ADVANTAGES.

Advantages include:

• It is like an IRA.  But in addition to an IRA, for added tax deductions, so that if you are in the 28% bracket, for every $100 dollars that you deduct, you avoid $28 in taxes.  Combine that with an IRA deduction and your tax savings can pay for most or all of your premium dollars.
• The HSA can be used by you to pay deductible expenses or even other medical expenses not covered by the plan.
• Whatever you don't use up in the year rolls over into the next year and continues to build with interest and on a tax deferred basis.
• At Retirement, you can withdraw the money for any reason or to supplement Medicare or prescriptions or whatever.
• You receive a Master Card to pay expenses from the HSA (or checks if preferred).
• The HSA account grows tax deferred.  In other words, you are not taxed on the growth and earnings.  And neither are you taxed on withdrawals used for health care expenses.

See the below example and then just click the Free Quote Link that will take you to the United Healthcare site for a confidential no obligation quote.  Once there, just navigate to the HSA100 program and compare the premium costs for yourself.

EXAMPLES:
                                                                            Single Individual
Ms. Sally previously paid $248 per month (or $2,976 per year) for a medical plan with a $3,000 deductible, a $30 per visit co-pay.  With no tax advantages or tax savings, if she became ill, the plan would only pay 80% of expenses after she incurred $3000 expenses and she would still pay 20% of all expenses.

Under her new HSA Plan, she pays a monthly premium of $245 (or $2,940 per year) with a $2,750 deductible.  She has no office visit co-pay and the company pays 100% of expenses after her deductible.  She further deposits up to $2,750 annually into her HSA that she can use for her deductible and other medical expenses and whatever is not used in the year rolls over into her next year earning tax deferred interest.  But, she can deduct both the premiums (if self employed) and her HSA from her tax returns.  Since she is in the 20% tax bracket the combined $5,960 (i.e. $2,950 + $2,750) deduction saves her $1,138 in taxes.  So, her real cost for the plan is $1,802 ( i.e. $2,940 - $1,138 = $1,802) or more than one thousand dollars less then her prior plan for better coverage. The savings and benefits are equally impressive for family or 2 party coverage.

                                                    Family of 4 , parents in their 30's, 2 children ages 6 & 2:

                                                    Old Med Plan                             New HSA100
Monthly premiums                         $945                                          $330
Deductible                                     3500                                          5450
Office Visit                                    $20 to $30                                  None
Co-Pay after deductible                   20% (Plan paid 80%)                  None (Plan pays 100%)
Tax Deduction                                None                                         $5450 HSA Contrib.
Interest earned                               None                                         Tax deferred on HSA
Retirement Savings                        None                                          HSA grows yearly

In this family's case, they are self employed and therefore can get additional tax benefits. They were advised to make the maximum IRA contribution of $8000. So that combined with the $5450 HSA contribution and the $3960 premiums, their total corresponding deduction was $17,410 reducing their Adjusted Gross Income (AGI) by that much. As they are in the 20% tax bracket, they saved $3,482 in taxes,...which paid for almost all of their health care insurance premiums. It almost paid for itself.

Further Description of the HSA provisions and Continued incentives approved by Congress can be viewed at:

http://www.treas.gov/offices/public-affairs/hsa/