HSA for America

Special Tax Relief Offer
for Our Valued Clients

March 1, 2012
Vol. 8, Issue 3


Tax time can be an opportunity if you seize all of the ways you can save money.  We’ll take a look at some of those chances from administrators who waive HSA fees to Health Reimbursement Arrangements.  If you thought an HRA was just for employers, read on to see how self-employed people are getting a piece of the HRA deduction pie.

Get Your HSA Established

If you haven’t yet established your HSA, you should, as soon as possible.  Only after you have established your HSA can you reimburse yourself tax-free for out-of-pocket medical expenses.  Keep in mind you can reimburse yourself at any time, so you don’t even have to put a lot of money in your account to get it started. 

You can set your HSA up with any bank, even your local bank if they offer Health Savings Accounts.  From now through April 31, our readers qualify for a special offer from HSA Bank.  They do not charge a setup fee and if you sign up through our site they will waive 90 days of the $2.25 monthly fee. That’s where I personally have my family’s HSA.  You can learn more about HSA Bank and apply online at

As a shrewd HSA owner, I’m sure you’re planning to maximize your 2011 contribution (if you have not already) prior to the April 15th deadline to reduce your 2011 taxes as much as possible.  For individual accounts, you can contribute up to $3,050.  Families may deposit up to $6,150.  Remember that if you are at least 55, you can add an additional $1,000 making the individual contribution $4,050 and the family contribution $7,150. 

How an HRA Can Dramatically Lower Your Tax Bill

If you qualify for a Health Reimbursement Arrangement (HRA), you can enjoy even greater savings.  An HRA is simply an agreement between a business and employee to reimburse that employee for health insurance and out-of-pocket medical expenses. Even though you cannot be covered under an HRA as a sole proprietor, your spouse who is employed by the business can be.  And, here’s the secret…your spouse’s HRA can cover your children and even you because you are a member of a covered family.

These expenses become tax-deductible business expenses for you, and a tax-free fringe benefit for your spouse. You’ll save on federal income tax, state income tax, and the 15.3 percent self-employment tax.  Most of our married, self-employed clients (and, of course, small business owners) set up an HRA because of the tremendous tax savings they can achieve.

To help you keep more money in your pocket in 2012,
we are proud to offer our special HRA Tax Relief Special.

When you sign up for an HRA by April 15, 2012, we’ll give you two months for free after you’ve been enrolled for four months.  The monthly subscription rate is $39.95 per month for a family, and $19 per month for additional employees.  And, we’ll waive the $195 HRA setup fee to thank you for the health insurance you already have with us.

How Much Can an HRA Save You?

Your spouse is eligible for an HRA when working at least part time in your business as an employee, rather than an independent contractor.  If your business has other employees, you must offer them the same plan that you offer your spouse. 

When you file your 2012 taxes, you can reimburse for out-of-pocket medical expenses only from the moment that you established your HRA.  How much can you save?  It is not uncommon for our members to report savings of $4,000 to $6,000 every year simply by funding expenses through an HRA.

We have lots more HRA information available at  You can set up your HRA there in just about 10 minutes.  I’m so sure that an HRA will be a money saver for you that we’ll cheerfully refund your money if it doesn’t lower your taxes by at least double what you spend for the HRA.

Remember, you must establish your HRA no later than April 15th to qualify for the two free months.

As always, my goal is to help you find the maximum health care savings possible, so I hope you enjoy these new strategies.  You may also want to review the Additional Benefits page we’ve created to keep you up-to-date on our special discounts and money-saving resources.


To your health and wealth!

President - HSA for America


HSA for America
749 S. Lemay Ave, Suite A3-116
Fort Collins, CO 80524
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