MamasHealth.com Home Insurance Information Child Care Insurance COBRA Dealing with an HMO Dr. Dealing with your HMO Dental Insurance Disability Insurance EPO Insurance Family & Medical Leave Health Insurance Health Savings Account Help with Denied claims HIPPA HMO Plans HMO Terms Explained Hospital Indemnity How Much Insurance HRA Insurance Terms Life insurance for kids Life insurance from your job Long Term Care Medicaid Medicaid fraud Medicare Medigap MSA MRMI Program POS Plans PPO Plans Risks of not having insurance Save money on insurance Term vs. Whole Universal Life Workers' Comp Links Email Mama Free medicine from Pfizer Financial help during medical crisis Patient assistance programs Adoption insurance Value driven health care Car Insurance Save on Car Insurance Financial Assistance for women's healthcare 2005 Insurance Coverage 2006 Insurance Coverage 62 days after being laid off	Medical Savings Accounts What is a Medical Savings Account? Medical Savings Accounts are tax-deferred accounts that allow you to save money for medical expenses. How does a Medical Savings Account Work? With a medical savings account, your employer or yourself takes money that is currently spent on your health insurance and deposits a portion of it into your Medical Savings Account. Up to $1,400 for an individual and $3,375 for a family can be placed in a medical savings account each year. The other portion of the money will be used to purchase a catastrophic policy that covers medical expenses after you meet a deductible. Using your Medical Savings Account funds, you pay for your first $1,400 worth of medical bills directly. Medical Savings Account funds can be used to cover any medical expense that is currently tax deductible, such as acupuncture, anesthetist, chiropractor, contact lenses, dentist, eye glasses, medical doctor, psychologist, registered nurse and surgery. Money that is left over in a Medical Savings Account Medical savings accounts let keep money that is left over. You have two options for handling unspent Medical Savings Account funds: You can save money (tax-free) for future medical expenses and the interest that you accrue is also tax-free You can withdraw money from your Medical Savings Account at the end of the year, but would need to maintain a minimum balance. Non medical withdrawals would be fully taxed and subject to a 15 percent tax penalty.	Sign up for our Email Newsletter For Email Marketing you can trust
	Hot Topics: Domestic Violence: A pre-existing condition? Serena: The wanna be vegetarian Personal Story: How I recovered from my Eating Disorder Mama wants to help: Food Bank programs and shelter assistance Lucy Goes Green: Talk dirty to me How to avoid Swine Flu What no one will tell you about tummy tuck surgery Mama's favorite item of the week: Trees for the Future Foods for weight loss Win a Gift Bag filled with Goodies from Stonyfield
	Information obtained from MamasHealth.com™ should not be used as a substitute for professional medical care or attention by a qualified practitioner, nor should it be inferred as such. Always check with your doctor if you have any questions or concerns about a specific condition. Use of this web site constitutes acceptance of the Terms of Use. Contact us: PO Box 2170, Pasadena, CA 91102-2170 ©2000 - 2009 MamasHealth, Inc.™. All rights reserved