One of the financial planning issues that you are probably aware of if you have a home business is that of health care. I know that my health care costs are barely manageable right now. We have health insurance coverage, but dental and eye care are paid out of pocket. One thing I’ve been considering lately is a health savings account to help pay for medical costs. At Sparkplugging, Tracy Johnson from Business.gov offers this advice about Health Savings Accounts:

HSA plans are available to help you pay for the expenses your plan does not cover. Small business owners should check with their insurance carriers to tell you in writing whether your policy is HSA-eligible. There is a checklist for small business owners available from the SBA to give you more information.

A Health Savings Account has tax benefits in addition to being a helpful way for you to save up for medical costs. There are some requirements, though. Luckily, they aren’t onerous. You just need have a family deductible of $2,300 for 2009 and not have other health care coverage. You also can’t be enrolled in Medicare or be a dependent of someone else. You can get more information from the Treasury Web site.