WASHINGTON –President Bush and U.S. Small Business Administration Acting Administrator Sandy K. Baruah recently met with women small business owners to promote the benefits of Health Savings Accounts.
HSAs are portable, tax-free savings accounts that can be used to pay for medical expenses including prescription and over the counter drugs, deductibles and co-payments incurred by individuals, spouses or dependents. Unused HSA money rolls over from year to year.
President Bush and Administrator Baruah participated in a roundtable discussion at SBA's Women's Business Center with local women entrepreneurs. They listened to first-hand testimony of women business owners who are currently benefiting from these accounts, and those who are considering them.
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Both leaders highlighted the HSA benefits and answered questions for those who have yet to start these HSAs.
"In my roles at the U.S. Dept. of Commerce and now as head of the SBA, I have met with many small business owners throughout the country, and they have shared their concerns with me. A topic that always arises is the rising cost of health care. Health Savings Accounts provide small business owners and the self-employed with an affordable option to health care coverage," said Baruah.
The roundtable discussion was a joint effort of the SBA, National Economic Council and the Department of the Treasury to promote the benefits of HSAs.
To further educate consumers and small businesses alike on HSAs, a new Web site, www.hsa.gov, has been developed as an online resource. In addition, SBA, NEC and the Treasury have produced an HSA fact sheet, which has been distributed to SBA district offices and resource partners as part of a greater outreach effort. An online training module outlining the basics of HSAs will also be available for small businesses and individuals.
Unitus Peddling Bicycle Loans
PORTLAND, Ore. — Unitus Community Credit Union is helping members kick the gas habit.
The credit union has teamed up with local bicycle shops and custom bicycle frame builders to offer a low-cost, fixed-rate loan for bicycles.
According to the Bicycle Transportation Alliance, Unitus' efforts represent a "forward thinking approach to encourage bicycling."
The move is designed to recognize the Portland region's love for biking and the ongoing push to identify it as a legitimate source of transportation. It also seeks to get more people on bikes in a bid to make Portland one of the healthiest communities to live in.
Unitus began offering the loans to its members on June 13 and has seen strong interest on the part of sellers and buyers. Loans are currently available for bikes from $250 to $2500.
Working with members of the Portland cycling community through relationships at the BTA, Sellwood Cycle Repair, and urbanmamas.org, Unitus has plans to continue to provide and enhance the loan to fit the needs of members as well as support the biking community in the greater metro area.
The Bicycle Transportation Alliance is a statewide nonprofit organization that works to open minds and roads to bicycling.
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