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Strategies & Market Trends : LastShadow's Position Trading

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To: BoNg-N-BoNg who wrote (15488)	6/11/1999 12:05:00 PM
From: John J H Kim	Read Replies (1) of 43080

OT-MSA There is a little confusion about MSA I think. The one I am referring to is the MSA in which the qualifications are for individuals who are self-employed or employed by a small company (50 employees or less) who offer MSA to their employees. The individual or group must have a high deductible medical insurance. Here's a better description: You (if you are self-employed) or your small employer purchase a high deductible healthcare policy and you open a MSA. The high deductible healthcare policy must have an annual deductible between $1,500 and $2,250 for individual coverage or $3,000 and $4,500 for family coverage. * You or your employer contribute money to your MSA. * You pay for qualified medical, dental, vision and prescription drug expenses not covered by the high deductible healthcare policy with funds from your MSA. * If your covered healthcare expenses are sufficient to meet your deductible, the high deductible healthcare policy pays for the expenses. * The remaining MSA balance revolves year-to-year and remains yours to use for future qualified healthcare expenses. * When filing your income tax return, subtract your MSA contribution from your gross income and pay lower taxes based on the lower income. Traditional Insurance * 40% of healthcare insurance premiums are tax deductible * Out-of-pocket medical costs deductible only if they exceed 7.5% of adjusted gross income * Flexible spending accounts not allowed MSAs * 40% of healthcare insurance premiums are tax deductible * 100% of MSA contributions are tax deductible * Funds in MSAs earn tax-deferred interest but can be withdrawn tax-free to pay for qualified healthcare expenses not covered by your high deductible healthcare policy.

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