Gabriela Benitez, a Senior Benefit Consultant at Diversified Insurance Group talks openly about what health insurance is right for your family.
There are many plans and options for health insurance. How do we pick the best one? There are 3 things to look at:
1- Look at the deductibles
2- Maximum out-of-pocket
3- Your premiums
Tell me about HSA
HSA is a Health Savings Account (High deductible health plan) certain plans if they have at least a $1500 deductible are considered an HSA plan. Everything is subject to that deductible before the insurance carrier will pay for any services other than preventive. (Preventive services in-network would be paid at 100% because of health care reform)
An HSA can be set up so you can put money in to an account to pay co-pays, deductibles, etc. on a medical side. The HSA is set up to give you a tax deduction (you will not pay tax on the money that goes in there).
You will be able to offset some of those medical costs by using an HSA. You will not become rich off of the account. It is collecting interest, you get the tax benefits, and you can carry it over year after year.
(If you have a high deductible plan this will help you save money and put some money back in your pocket that you would be giving Uncle Sam)