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Reply #60: Yes [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
TwixVoy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-06-09 07:44 PM
Response to Reply #56
60. Yes
Basically a health savings account at a BANK/Credit union is a tax advantaged account that you can use for any expense related to medical care.

So let's say you go to Bank of America and open a health savings account. Let's say you deposit $500 in the account. Let's say that year you go and use that money to buy aspirin, bandages, rubbing alcohol, use it for your pescription co-pays, etc. You don't pay federal income tax on that $500 AT ALL - EVER.

That is the advantage of being able to open one.

What the people here opposed to making that health savings account available to everyone are having you do is STILL use that $500 to make the SAME purchases over the year, BUT like cold hearted fucking republicans they would have you pay federal income tax on that $500 you used for your medical care on top of that as is the case now.
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