Entrust New Direction IRA Offers A New Option For Individual Health Costs Savings

Introduced for 2004, Health Savings Accounts give individuals a new option for health insurance premium reduction as well as a tax deduction for contributions. As reported in the September 9, 2004, Wall Street Journal article "Health Savings Accounts Gain Momentum," HSAs and their related High Deductible Health Plans (HDHPs) are providing individuals with a new option to control rapidly increasing health plan costs.

Any individual covered by an HDHP may contribute to an HSA. The plan may cover family members as well as the individual. Cash savings for the individual come in the form of reduced insurance premiums for the health plan and a tax deduction for contributions to the HSA. Sometimes referred to as a Medical IRA, the HSA is similar to an IRA. Amounts contributed to an HSA are deductible in the year made. Contributions accumulate in the account tax free for use for future medical expenses when paid out. Funds in the HSA may be used to reimburse for medical expenses as the funds are needed. Expenses may be accumulated for disbursement in subsequent years, allowing for long term tax free growth.

New Direction is a self-directed plan administrator offering self-directed HSAs. Self-directed HSAs allow almost unlimited investment opportunities. The IRS places few limitations on the type of investments allowable for HSAs, as well as by related IRAs and other retirement plans. Possibilities include, but are not limited to, interest bearing cash accounts, public and privately traded stocks, mutual funds, bonds, real estate, private notes and mortgages, secured and non-secured loans, LLCs and limited partnerships.

New Direction, located in Boulder, CO has introduced a series of courses to educate the public on the new plans.

     
   Entrust New Direction IRA, Inc
   Boulder,    CO,    80303
   USA
   303-546-7930 (phone)
   303-665-5962 (fax)
   BHumphrey@NDIRA.com
   www.ND-HSA.com
  

     
   Entrust New Direction IRA, Inc
   Boulder,    CO,    80303
   USA
   303-546-7930 (phone)
   303-665-5962 (fax)
   CWynne@NDIRA.com
   www.ND-HSA.com