The health care reform retained the Health Savings Accounts (HSA), which are, loosely put, Roth IRAs for health care.
Since 2004, you can contribute up to $3,050 or twice that ($6,150) for a family. If you are over age 55, you can add $1,000 more. Your health insurance has to have a deductible of $1,200 ($2,400 for a family).
Like a Roth IRA, there is no tax due on any income generated in an HSA. The savings can be invested in many ways, including equities (which would only make sense if you believe you will not draw from the HSA for many years). The investments in the account can be used for health expenses, or be kept for future years, and such a distribution is not taxable. (Making a distribution for other than health care expenses will be taxable.)
HSAs will become more popular by 2014, if not before, as then everyone will be required to obtain insurance and some may elect high deductible plans, for which an HSA makes sense.
For planning purposes, being able to grow assets tax-free now to hedge against future health care costs is a great tool. If you are interested in setting up a plan, let us know.
Let us know if you have questions or comments. Thanks,