|
Just As car
insurance doesn't pay for oil changes, Health Savings Account (HSA) plans don't
pay for routine doctor visits and prescriptions until your deductible is met.
Deductibles start at $1,100 for individuals and $2,200 for families. The result
is much lower premiums.
Candace De
Long is a client of ours in Fort Collins, Colorado. She had originally signed
up for a co-pay plan from Blue Cross Blue Shield, for which she was paying
$408.10 per month. Her coverage was very rich in benefits, but after her first
year she reported that she really wasn’t using it much.
After
reviewing her options, Candace decided to switch to an HSA plan with Blue Cross,
for only $240.30 per month, lowering her premium by 41%.
Health Savings
Account Quote Now>>
It Gets Better…
HSA plans
allow you to deposit money into a special account to pay for future medical
expenses. Any money you put in is tax deductible, regardless of your income
level, income source, or even whether or not you use the money for medical
expenses.
Candace
told us that she was planning on maximizing her HSA contribution. Assuming she
is in a 28% tax bracket, this will save her $742 in income taxes.
Subtracting her $742 in tax savings from her $2,884 health insurance premium
gives him a total net health insurance cost for the year of $2,142 or only
$178.50 per month!
This low net premium
is the main reason why HSA plans are becoming so popular.
Health Savings
Account Quote Now>>
How to
establish an HSA
To
establish a health savings account, you must own an
HSA-qualified
high deductible health insurance plan. First, review all the
information on the
HSA Info
page and check out our
Q & A section
to familiarize yourself with HSAs. T
If you
would like assistance in choosing a plan, we are available for no-obligation
telephone consultations. We'll help you analyze available plans so you can
choose the one that's best for you. To schedule an appointment please call us.
Health Savings
Account Quote Now>>
|
