Vol. Two No. One SPECIAL TO OUR MEMBERS New Law Makes It Possible to Save Thousands on Insurance I.R.S. AUTHORIZES NEW HEALTH INSURANCE SAVINGS PROGRAM Critical Illness policies pay a lump Health Savings sum upon occurrence of a heart attack, Accounts (HSA’s) stroke, cancer or other major illness. Revolutionizing Health Those in the 40-64 age range are also Insurance faced with the need to insure for long- term care and home health care. A service of In fact 43% of all long-term care is On January 1, the government took a WORLDWIDE INSURANCE provided to persons under the age of giant step to help consumers save SERVICES, INC. 65! thousands of dollars on health 237 Melvin Drive Now, the more affordable HSA high insurance and out of pocket medical Northbrook, IL 60062 deductible health insurance plans have costs. That was the first day that www.wwins.com the added advantage of saving on the Health Savings Accounts or HSA’s For Info, 800-955-0418 cost of long-term care insurance by became enhanced and available to e-mail: email@example.com partially paying premiums with tax- virtually everyone under the age of free dollars. For those in high tax sixty-five. Partially tax-free withdrawals brackets this means that they are HSA’s, authorized under Section from HSA’s can be used to pay for effectively reducing the cost of long- 106(d) of the Internal Revenue Code, long-term care and home health term care insurance by 30% or more. are individual savings accounts, care insurance premiums. When this coverage is purchased at funded by an individual or an HSA’s require a high deductible ages 40-64 the consumer has the employer, that accumulate tax-free, medical plan but there is a good-sense added advantage of usually qualifying and may be used to pay for qualified exception for preventive care. Routine for low “healthier, younger person” medical, dental and vision care checkups and disease screening rates. expenses. services will not require a deductible There are many advantages to these new plans: to be met before benefits are paid. Double Savings Contributions to HSA’s are tax- deductible, just like contributions to Ideal For Persons Many people in this age bracket will IRA’s or other retirement plans. HSA withdrawals for qualified Ages 20-64 now find that they can purchase an medical expenses, including over-the- HSA, high deductible health insurance counter medications, are tax-free. plan and a long-term care insurance HSA’s have had a positive impact on plan for no more than they had been everyone because health insurance has paying for traditional health insurance. CONTENTS become more affordable. There are With the tax advantages factored in, two groups who stand to gain the most the actual, after-tax cost of two Health Savings Accounts (HSA’s) Revolutionizing Health from these new plans are individuals policies could be lower than the cost Insurance ......................... 1 ages 20-64. Healthy individuals in of health insurance alone! Ideal For Persons Ages 20-64................. 1 their 20’ and 30’s can drastically Double Savings ....................................... 1 reduce their health insurance costs. For A No-Cost Often this group is most concerned with catastrophic coverage. One way HSA/Long-Term Care to solve this problem is to combine a Comparison Call high deductible HSA with a Critical WORLDWIDE At Illness policy and save 30% or more 800-955-0418, ext 222 of the cost of traditional coverage.