Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance

Aetna Makes Quick Use Of New HSA Law

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Dec. 8, 2003, 4:31 p.m. EST – Aetna Inc., Hartford, says it will be adding health savings accounts as an option to its Aetna HealthFund family of defined contribution health plans Jan. 1.[@@]

The new Medicare Prescription Drug, Improvement and Modernization Act of 2003 includes a section that lets members of high-deductible insurance plans deduct contributions to HSAs from taxable income.

Aetna’s defined contribution health plan program combines high-deductible health coverage with personal health accounts that employees can use to pay for routine medical expenses.

Although federal agencies have given companies permission to include various types of personal care accounts in defined contribution health plans, MPDIMA clarifies the rules and builds a variety of account tax breaks into federal law, experts say.

President Bush signed H.R. 1, the bill that created MDIMA, earlier today.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.