Save BIG on Healthcare Costs with an Idaho MSA

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What is an MSAIdaho Independent Bank is offering BRR members a big discount on an Idaho Medical Savings Accounts (MSA)!

An Idaho MSA is a special bank account anyone can open that allows you to pay health insurance premiums, Medicare premiums and all of the out-of-pocket medical expenses like medical bills, dental, vision, prescriptions, supplies and alternative care with tax-free dollars on the Idaho level.  You can deposit up to $20,000/year to pay these expenses you’re going to pay anyway, and everything you put into the account you can deduct whether you spend it or not.  Unspent funds simply roll over every year building a balance for future needs.  It’s like a Medical IRA!

Adam Berry, the Healthcare Accounts Officer from Idaho Independent Bank, will be at BRR on Thursday, December 13th from 3:00 – 4:00 to talk about what these accounts are, how they work, and why they’re such a huge benefit to our community.  There’s no cost to attend, so come learn about how you can save money on the healthcare costs for you and your family and get a tax deduction while you’re at it!  Please RSVP for this event.

Here are the five biggest reasons you need to open an Idaho MSA immediately:

  1. Available to Everyone! 
    • Works for Idahoans of any age, with any insurance policy (or lack thereof).
  1. Huge Tax Deduction! 
    • Every dollar you deposit up to $20,000/year reduces your Idaho taxable income, whether you spend it or not.
  1. Medical Costs Are Inevitable! 
    • Use this account to pay tax-free for doctor’s visits, hospital bills, dental, vision, prescriptions, etc. – Spouse & kids included.
  1. Great Budgeting Tool! 
    • Put money away when you have it, so it’s there when you’ll need it – with the added bonus of a tax deduction!
  1. Keep More of Your Own Money!
    • Reduce your taxable income, unspent funds roll over towards retirement, and they’re always spent tax-free to pay medical expenses.  It’s a no-brainer!