Many employers are not aware that contributions they make to their employees Health Savings Accounts can be written off 100% on taxes & employees receive a great benefit as they can then use this money to cover medical expenses and prescriptions.
Richmond, VA (PRWEB) April 27, 2012
According to http://247wallst.com, the medicare health insurance fund is projected to be exhausted by 2024. American IRA, LLC is getting the word out that a Health Savings Account can help bridge the gap! Qualified expenses paid from a Health Savings Account are tax-free.
Health Savings Accounts are growing in popularity in the shadows as many people worry about the impact of the new "Obama Care" program on their health insurance. These accounts are great because they allow the employer to contribute funds for the employees to use for medical expenses and prescription drug costs. What is even better about it is that it is a win-win situation. The employer can write off 100% of what he contributes for their employees and the employees can also make contributions to their Health Savings accounts. In essence, this is a great way for employers to give a benefit to their employees and with the 100% write off it is highly possible that the employer nets a $0 expense from providing this benefit. Jim Hitt, CEO of American IRA interjects, "If you are re-reading this paragraph to see if you read it correctly, you are not alone. Many employers are not aware that the contributions they make to their employees Health Savings Accounts can be written off 100% on their taxes. At the same time, employees receive a great benefit, the ability to use this money, tax free, to cover qualified medical expenses and prescription drug costs that they would have otherwise paid for 'out of pocket.' So what are you waiting for?!"
Publication 969 provides the complete details of the rules of Health Savings Accounts including how much can be contributed to each individual's account per year.
Jim Hitt explains, "If Health Savings Accounts sound great to you...wait there is more! Yes, Health Savings Accounts can be self-directed and the funds within those accounts can be used to invest in non-traditional assets such as real estate, private lending, limited liability companies, precious metals and much more! Just like other self-directed retirement accounts, the expenses and income from those investments must be the responsibility of the Health Savings Account. We have many clients that have used investment techniques to increase the value of their Health Savings Accounts."
American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self directed retirement industry. Mr. Hitt and his team have grown the company to over $250 million in assets under administration by educating the public that their self-directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more!
To learn more about American IRA, LLC and self-directed IRAs/self-directed Solo 401(k)s, please contact our office at 1-866-7500-IRA(472).
As a self-directed IRA administrator they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms ). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville, NC.