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If HSAs are a great idea, why aren't more people using them?

Publication: Mississippi Business Journal
Publication Date: 23-OCT-06
Format: Online
Delivery: Immediate Online Access
Full Article Title: If HSAs are a great idea, why aren't more people using them?(Healthcare Mississippi)

Article Excerpt
Health savings accounts (HSAs), which combine a tax-free savings account for medical expenses with a high-deductible health insurance plan, have significant tax advantages in addition to their potential to help reduce healthcare costs because participants have a greater motive for careful spending since it is their money at stake.

HSA's serve as a solid alternative for many employer groups as this plan design concept allows employers to slow down the rate of healthcare inflation each plan year, says Wally Davis, sales manager with Health Link/Acclaim in Tupelo, which is owned by North Mississippi Health Services Inc.

"By shifting the burden of responsibility to manage...

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