Inspira’s Financial Report Reveals Savings Potential of Health Savings Accounts
Vineland, NJ
– Inspira Health has released its latest financial report, highlighting the significant savings that members can achieve by utilizing health savings accounts (HSAs). According to the report, Inspira members who contribute to an HSA could save over $1 million in healthcare costs over their lifetime. HSAs are tax-advantaged accounts that allow individuals to set aside pre-tax funds to cover qualified medical expenses. “HSAs provide a triple tax advantage,” said Inspira’s Chief Financial Officer, John DiAngelo. “Contributions are made on a pre-tax basis, earnings grow tax-free, and withdrawals for qualified medical expenses are also tax-free.” The report found that Inspira members who contributed $2,000 per year to an HSA over 50 years could potentially save $1,040,000 in healthcare costs. This includes savings on premiums, deductibles, and out-of-pocket expenses. “HSAs are a powerful tool for individuals to take control of their healthcare costs,” said DiAngelo. “They allow members to accumulate funds for future expenses, while also providing tax savings.” Inspira offers two HSA options to its members. The Inspira HSA is a no-fee account that provides access to a network of over 50,000 pharmacies and healthcare providers. The Inspira Premier HSA offers additional benefits, such as investment options and a debit card for easy access to funds. “We encourage our members to consider the benefits of HSAs,” said DiAngelo. “By contributing regularly, they can save a substantial amount of money on healthcare costs while taking advantage of tax savings.” For more information about Inspira’s HSAs, visit the Inspira website at https://www.inspirahealthnetwork.org/services/health-savings-account.
Inspira’s Financial Report Highlights Savings Potential of Health Savings Accounts
Inspira Health Network’s recent financial report has revealed that individuals can save over $1 million by utilizing a health savings account (HSA). HSAs are tax-advantaged savings accounts that allow individuals to set aside money for future medical expenses. They offer several benefits, including: * Tax-free contributions * Tax-free interest growth * Tax-free withdrawals for qualified medical expenses According to Inspira’s financial report, an individual who contributes the maximum amount to an HSA for 30 years could accumulate over $1 million in savings. The report also found that HSAs can help reduce out-of-pocket health care costs by an average of 25%. “We are committed to providing our patients with affordable, high-quality healthcare,” said Amy Mansue, President and CEO of Inspira Health Network. “HSAs are a valuable tool that can help our patients save money and plan for their future medical expenses.” Inspira offers a variety of HSA options for individuals and families. To learn more about HSAs and the benefits they offer, please visit Inspira’s website at www.inspirahospitals.org/hsa.