High Deductible Health Plans and Health Savings Accounts

and the costs of health care and health insurance continues to grow, consumers are actively seeking ways to lower prices. This increases costs, as well as current health care reform efforts, it is useful for several reasons. First of all, it is because people look at creative ways to reduce premium costs. Secondly, it has caused us to consider what the real purpose of insurance is used and evaluate our past coverage of the election. Let's look at the components using a Health Savings Account Plan:

High-deductible health plan (HDHP)

Health Savings Account (HSA) coverage option has two components. The first component is a high-deductible health plan (HDHP). This is a major medical health insurance that is recognized options that meet the guidelines laid down by law. Plans that meet the criteria are deductible as "qualified" high-deductible health plan. There is an inflation factor of which refuse to adapt the guidelines on an annual basis. These (HDHP) plans are considered comprehensive in the sense that all medical expenses, large or small, and even doctor visits and prescription drugs, and are considered covered expenses count toward the deductible.

It is important to note that there can be benefits paid until the deductible is met the qualifying HDHP. For example, a CN to be a doctor office co-pay and prescription drug co-pay. After the up-front benefit of this type would violate the guidelines and disqualify the HDHP. It is important to note that prevention and wellness benefits can be covered before the franchise of a qualified HDHP. For plans that use a preferred provider organization (PPO), you can also get the benefit of discounted prices for all medical visits and procedures that participating providers.

A unique and well accepted feature of the HDHP is that there is only one family refused. This means that you can refuse to meet a family member has a large medical expense or all family members by combining medical expenses. After the deductible is met, the whole family begins to have the costs covered. Expenses after the deductible can be covered in 100% or coinsurance percentage to the family maximum out-of-pocket limit is met.

Health Savings Account (HSA)

the other component is the Health Savings Account (HSA). It is easy to qualify an account for making deposits, which can later be used for medical care. These accounts may be established with the bank, insurance company, credit union or investment company. Accounts must be "qualified" savings account and meet certain criteria established by law, therefore, it is important to verify that the account you are considering meets the qualifications. These accounts are interest bearing accounts and funds can be accessed by debit cards, checks or a written compensation medical expenses paid. There are limits on the amount that can be an HSA each year:

2009 contribution limits
$ 3000-a
Family-$ 5950
* $ 1,000 catch-up for 55 or older

2010 contribution limits
$ 3050-a
Family-$ 6150
* 1000 catch-up for 55 or older

Here's the best part. HSA contributions are deductible for tax purposes. This means that routine medical expenses, even things that are not covered under the intermediate plan, such as dental, vision and over-the-counter drugs can be paid for with pre-tax dollars rather than after-tax dollars.