A proposal introduced in the state Assembly last week would allow state-chartered credit unions to offer their members tax-exempt Health Savings Accounts, just like federal credit unions. Health Savings Accounts are tax-exempt savings accounts similar to Individual Retirement Accounts that are especially earmarked for medical expenses. Federal law allows California's 300 federally chartered credit unions to offer the accounts.
Calif. Bill Would Permit HSAs
February 28, 2005, 1:00 a.m. EST
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