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April 18, 2007 at 01:33 PM
The Archer Medical Savings Account is small enough that it can keep going for another year.
Officials at the Internal Revenue Service discuss that conclusion in IRS Announcement 2007-44.
Officials made the announcement because, due to fears of some health policy advocates that an MSA program could undermine the U.S. health insurance system, the 1996 federal law that authorized the existence of the Archer MSA pilot program requires the IRS to shut off the program to new applicants if more than 750,000 U.S. taxpayers file Archer MSA returns.
