Global Health Voyager, Inc. Introduces New Options to Use Health Savings Accounts for Medical Travel
BEVERLY HILLS, Calif. – September 14, 2011 – Global Health Voyager, Inc. (OTCBB: GLHV), a full-service, web-based, medical tourism facilitator, today announced that it will now offer its medical travel programs to Health Savings Accounts (HSA), a tax-advantaged medical saving account available to individuals covered by High-Deductible Health Plans (HDHP) established in 2003. This initiative gives GHV first mover advantage in the medical travel marketplace, and marks the Company’s entry into large-scale, business-to-business medical travel transactions.
“HSA account holders will now have the opportunity to take advantage of a medical travel option and access high quality healthcare services at significant savings virtually anywhere in the world,” says Ali Moussavi, president and CEO of Global Health Voyager. “Medical travel promotes the advantages of personal choice, an underpinning of HSAs, and we look forward to expanding these opportunities for all Americans.”
The funds contributed to an HSA account are not subject to federal income tax at the time of deposit, roll over and accumulate year to year if not spent, and may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. According to a recently released report from the trade association America’s Health Insurance Plans, the number of people with HSA Plans has nearly doubled in the past three years. This year, about 11.4 million U.S. residents can use the tax advantages of an HSA.
“HSAs apply to anything where the services purchased qualify on publication 502, issued by the IRS,” adds Moussavi. “Of course, individuals will have to ascertain what percentage of the money spent on medical travel is credited towards satisfying their deductible.”
HSAs allow patients to receive needed care without a gate keeper to determine what benefits are allowed, and make consumers more responsible for their own health care choices through the required High-Deductible Health Plan.