Fort Collins, CO (PRWEB) March 14, 2007
HSA for America today announced a new affiliate partnership program for CPAs and other financial advisors to help their clients reduce their taxes. Under this program, financial advisors can offer instant quotes directly from their own website on health insurance plans that work with health savings accounts.
Health savings accounts, or HSAs, allow someone to put aside up to $5,650 per year to cover future medical expenses. Any money deposited in the account is tax-deductible, and grows tax deferred like an IRA. If the money is withdrawn to pay a medical expense, no taxes are ever paid on that withdrawal.
"HSAs are definitely a smart choice", says Geoffrey Goudy, CPA, a sole practitioner in Fort Collins, Colorado. "Not only it is an immediate tax write-off, but people who stay healthy can build, in essence, a substantial medical retirement account for use in their later years."
HSAs first became available in January of 2004, and now cover nearly 5 million people and are thought to hold as much as $5 billion in investments. HSA-qualified health insurance plans carry higher deductibles than traditional copay plans, in order to encourage the consumer to become more involved in their own health care decisions. As more people carry HSA plans, many economists predict that the competitive pressures on healthcare providers will lead to lower prices and higher quality.
Consumers are choosing these plans because of the lower premiums and tax benefits, yet many are still confused about how they work. "CPAs are in the perfect position to explain HSAs to the public", says Wiley Long, President of HSA for America. "Yet very few CPAs are also licensed health insurance agents. By enabling the financial advisors to offer HSA quotes from their website, we can help them provide a higher level of service to their customers."
HSAs are rapidly growing in popularity, and are expected to exceed $10 billion in assets by the end of 2007. Long said that numerous requests from CPAs led HSA for America to put together this program. Participating affiliates will have the opportunity to earn referral fees when someone applies for coverage, and will also get a listing on HSA for America's website. Further information is available at: http://www.HSAforAmerica.com/CPA-affiliate-program.htm
About HSA for America
HSA for America is a nationwide brokerage firm specializing in individual and family health insurance plans that are qualified to work with Health Savings Accounts. HSA for America represents many different insurance companies, offers instant online quotes, online applications, and comparisons of HSA administrators.