HSA Qualified Health Plans work by coupling a Qualified High Deductible Health Plan (Q-HDHP) with a Tax Advantaged Health Savings Account. The funds deposited to the HSA can be utilized to pay for Qualified Medical Expenses on a tax-free basis and balances roll over from year to year. The minimum Q-HDHP deductibles are $1,100 for single and $2,200 for family coverage. When coupled with 100% co-insurance plans they can significantly reduce the annual maximum out of pocket cash when compared with traditional Co-pay plans. This is especially true when discussing family plans where there may be deductibles for each family member. The Q-HDHP plans utilize family deductibles where one or multiple family members’ medical costs go toward a single deductible.

Katz Mortgage Team, www.KatzMortgageTeam.net, of Amtrust Mortgage Corporation, has announced that Congress has just passed long-awaited legislation that will make mortgage insurance payments tax deductible on new mortgage originations beginning January 1, 2007.

The provision nestled in the federal “Tax Relief and Health Care Act of 2006” would allow home buyers to deduct the cost of mortgage insurance premiums they pay in connection with a mortgage obtained in 2007.

Last week, before Congress went on recess for the holidays, it passed a new tax break for middle-income taxpayers who plan to purchase a home in 2007. The tax break, neatly sandwiched in an omnibus tax bill, allow new homeowners to claim a deduction on their mortgage insurance premiums.

Many home buyers cannot afford to make an initial down-payment of 20% of their home value and are thus subject to paying home owners mortgage insurance, an insurance designed to protect banks from home owners that may default on their payments. Mortgage insurance is estimated to be about $75.00 a month on a $180,000 home, or just about 1% of the mortgage.

By Vicki Pounders

Individuals without employer-based health insurance have other options available

But it’s not as simple as just picking one. Experts say that a plan that works best for a single person might not be ideal for a couple with children or a recent college graduate who expects to find a job in a few months.

"Consumers should talk to a local insurance broker, or they could go online to a site like ehealthinsurance.com," said Ellen Laden, director of public relations for Golden Rule Insurance.

By MICHAEL BROACH
Now that the days of cheap gas are over, people are constantly looking for ways to save a few bucks on their car. Most people will look for ways to make their car more fuel efficient, but another way to save is to lower your insurance premiums.

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