the idaho msa for individuals & employees
DESCRIPTION
Learn about how an Idaho Medical Savings Account will help you reduce your State taxable income, save money on your healthcare costs and plan for your future!TRANSCRIPT
Introducing the New Idaho State MSA
From: American Health ValuePresented By: Adam Berry
Learn how the Idaho MSA Program will help you save money on healthcare, reduce your Idaho taxable income &
help you plan for your future!
Idaho MSA Background:
Around Since Mid 1990’s
Yet MSAs Almost Non-Existent◦ Sitting around collecting dust◦ Nobody knows about them
Idaho 1 of Only 3 States◦ Utah & Montana are other 2
“Idaho MSA” is a Collaboration◦ Local Administrator, Local Bank◦ American Health Value & IIB
Built on Each Company’s Strengths◦ AHV’s is benefit administration & consulting◦ IIB’s is banking & statewide branches
Main Goal to Help Idahoans
What is an Idaho MSA?
Special Savings Account with Tax Benefits◦ Set Money Aside Tax-Free for Healthcare◦ Reduces Taxable Income Dollar for Dollar
Triple Tax Advantage◦ Tax-Free Going In (reduces taxable income)◦ Earns Tax Free Interest While it Sits◦ Spent Tax-Free Going Out
Money Rolls Over Towards Retirement◦ No Use it or Lose it◦ Pull it Out at 59.5 as Retirement Income◦ Or Continue Paying Qualified Expenses
That may look familiar…This is where it gets interesting!!
Who Can Have An MSA? Almost Anybody!
No Insurance Requirements!◦ HDHP, PPO, Medicare, Uninsured
No Employment Requirements!◦ FT, PT, Medicare, Seasonal◦ Even the Unemployed
No Age Restrictions!◦ Even Medicare Enrollees Qualify
Veterans, too!◦ No exclusions for VA Benefits or Tricare
Truly Designed to Help Everyone!
How Much Can You Put In? Quite A Bit!
Single Filing Status:◦ Up to $10,000
Joint Filing Status:◦ Up to $20,000
House Bill 595◦ March 28th, 2014◦ Increased limits from $2k & $4k
Funding Based on Calendar Year◦ Fund a little, or a lot – Up to you
Unspent Funds Roll Over Each Year, Building A Nest Egg◦ Use like an IRA & pull money out for retirement◦ Or leave in & spend on inevitable medical expenses
What Can You Spend it On? “Qualified Medical Expenses”
◦ Doctor’s Visits, Co-Pays & Prescriptions◦ Hospital Bills, Dental & Vision◦ Band-Aids, Chiropractor◦ Even Insurance Premiums!
Yes, You Can Pay Premiums!◦ Health Insurance Premiums◦ Medicare Premiums◦ LTC Premiums, too!
Debit Card & Checks◦ No Claim Submission, Keep Receipts◦ Pay at Point of Service, or Reimburse
If You’re Paying Your Own Premiums…Why Wouldn’t You Open One??
To Sum It All Up…
Savings Account for Healthcare
Reduces State Taxable Income
No Insurance or Age Restrictions
Deposit $10,000 or $20,000
Pay for common healthcare costs
Insurance Premiums, too!
Spender or Saver – Works for both.
For many Idahoans, this really is a no-brainer!
Healthcare Discount Program
Totally Free for Our Members
Save up to 65% on:◦ Prescriptions◦ Dental Costs◦ Vision Care◦ Doctor’s Visits◦ Medical Lab Testing◦ + 5 more programs!
Excellent Statewide Coverage
Take Advantage of this Discount Card& Maximize your healthcare savings!
Open Your Idaho MSA Today!
From: American Health ValuePresented By: Adam Berry
Contact Me forQuestions & Enrollments:
Phone: (208) 331-0676
Email: [email protected]
Website: www.IdahoMSA.com