Me and only me
...th insurance with a tax-favored savings account. Money in the savings account helps pay the deductible. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest and is yours to keep). Jenkins states critics said that only the “young, healthy and wealthy” would opt for HSA’s for tax shelter reasons. However, two promoters of HSA’s reported that more than one-third of their applicants were previously uninsured, two-thirds were over 40, and many were at the lower end of the income scale. This is surprising to what the critics say, but it is only confusing to those who never understood why the tax code was the problem in the first place. A typical family insurance policy given to families by their companies represents a total price-tag of about $9,086 a year. If your family is in the top tax bracket, the cost to them will be about $5,500. However, if you are in the working poor class bracket and you pay no federal income tax, it is $9,086. Jenkins says that even some who know better like Corporate America would still rather lobby the government for more handouts than call for a restructuring of the whole tax bracket. Bush’s administration wants to put a “lid” on heal...