Is An Hsa A Type Of Insurance?
|
A Health Savings Account (HSA) is not a type of health insurance. But that's an easy mistake to make!
HSAs are closely associated to health insurance, although they do not provide any insurance benefits themselves.
Think of an HSA as a special type of savings account. It's a savings account where:
You can put money in and get a tax deduction.
You can take money out anytime, as long as the money gets used for medical purposes.
That's an HSA in a nutshell. But it's worth talking about a few more specifics.
You need to get an HSA from a special HSA custodian. Any business that can create an Individual Retirement Account (IRA) can also create an HSA for you. That includes many banks, insurance agents and financial advisors.
In order to qualify for an HSA, you must already have a health insurance policy. But not just any health insurance policy will do. It must be a "high deductible" health insurance policy. "High" means that the deductible (the amount you pay before the insurance starts to kick in each year) must be at least $1,000 for an individual or $2,000 for a family. That's the minimum. Any deductible you have on a policy that is higher than that is okay too.
You can be employed or unemployed. As long as the insurance you have (through your employer or by yourself) has a high enough deductible, you're all set.
Health Savings Accounts will change how we think of health insurance. They are a wonderful tool that almost every American can and should benefit from. And they're available today!
Daryl Kulak is the author of the book "Health Insurance Off the Grid - A Wonderful Way to Use Alternative Medicine and Save Money on Insurance Using the New Health Savings Account (HSA)."
The book provides a nine-step plan to get your individual health insurance costs under control using a unique approach you won't find anywhere else. The book is available as an e-Book or paperback at the Website http://www.healthoffthegrid.com
|
|
|
Outside Pressures On The Typical Insurance Adjuster
Insurance adjusters are not without outside pressures they must deal with every day of their work life. It would be advantageous for all readers to be aware of the most important of these because they could put money in your bank.The first of these is your State Department Of Insurance. Every state has a Department, or Commissioner, or Bureau of Insurance that overseas the...(related: Insurance)
Terrorism: Acts Of Terrorism: When Will Insurance Respond?
Insurance policies provide financial protection in a broad range of circumstances but each type of product specifies certain situations where the policy will not respond. These vary from one type of product to another, and can vary in detail between one insurer and another. It is important to check the details of your individual policy. However the questions and answers below seek to set out the usual approach for each of the main types of insurance.If you have specific queries on your policy you should approach your insurer or broker.Property coverWill my home be covered if it is damaged or destroyed in a terrorist attack?Yes. Household, buil...(related: Insurance)
Car And Home Insurance Northern Ireland
Don't skimp on insurance. This probably doesn't sound like a way to save money. But keep in mind the purpose of insurance is to transfer to an insurance company the financial risk you can't afford to carry yourself. Without formal insurance, you are de facto self-insuring - meaning you'll pay out of your own pocket in the event of a financial disaster such as loss of a home or a serious illness.For example, many renters don't own renter's insurance, which covers the loss of their personal property (no, the landlord's insuran...(related: Insurance)
Bankers Long Term Care Insurance
How many times have you seen people whose life was turned upside down by an accident?When an a...(related: Insurance)
Health Care And Health Insurance Costs Can Be Controlled Through Lifestyle Choices
As you probably know all to well, the cost of healthcare and health insurance premiums continue to increase at levels substantially above the general inflation rate. The reasons given for these extraordinary cost increases are numerous and include: technological advancements in the medical field, increased demand for medical services and prescription drugs, the aging of the population, cost shifting caused by the uninsured and governmental reimbursement rates, state and federal mandates, and costs associated with medical related lawsuits.As individual consumers, we have very little control over some of the factors contributing to the cost of healthcare. However, all of us have control ...(related: Insurance)
Internet Insurance Leads
It is a fact that more and more people everyday use the Internet to get insurance coverage. The number of online customers is massive compared to "traditional" business, and it is increasing day after day.However, a...(related: Insurance)
Tips For Choosing A Life Insurance Company
More than 150 insurance companies offer thousands of life insurance products in the UK.Choosing the right company and right product from this bewildering choice is challenging. Fortunately, there are some common sense guidelines th...(related: Insurance)
Finding California Truck Insurance
It's very easy to find California truck insurance on the internet today. No longer does your search require numerous phone calls, faxes, brochures, going to the office and placing calls to (10) or so agents to find a decent California Truck Insurance quote.There is a certain amount of knowledge needed to properly provide accurate quotes and most agents don't develop the commercial insurance knowledge to comfortably work in that market segment.There are also a limited amount of companies that write commercial vehicle coverage so it does take a small additional effor...(related: Insurance)
Affordable Health Insurance - Health Insurance For The Self Employed
One of the things that is important to consider when you leave corporate America for the freedom of your own business is affordable health insurance. In fact, the reason most often cited for NOT taking the plunge into self-employment is the lack of cheap health insurance alternatives for people who are not employed by a company that can offer more affordable rates on health insurance through a group health insurance plan.If you do decide to brave it and be your own bo...(related: Insurance)
Home Insurance Rates In Northern Ireland
A recent survey took the most popular type of home in the UK, the three-bed semi, and compared the quotes given by insurance companies for different postcodes around the country. Northern Ireland came in top for buildings cover with an average of £119.The premiums are affected by such variables as the amount of subsidence in the area, and the size and rebuild costs of the house. Some policies were based on the number of bedrooms in the house, but there is also the issue of the cost of rebuilding, which vary due to local construction standards, the cost of labour and the availability and cost of materials. When buildings and contents cover are assed together for a three-bed semi all over the UK, the cheapest average is in Lisnaskea in Northern Ireland, which has ...(related: Insurance)
Finding Term Life Insurance Online
What exactly is Term Life Insurance?Term life is a form of life insurance where you're covered for a number of years - the number of years is called the term. Term life insurance policies can be for as long as 30 years or for 20 years, 15, 10 or 5. After those years the policy can either be over or it can be renewed at a higher price based on your age at that time.What's the best way to utilize term life insurance?Term life is very good to have a lot o...(related: Insurance)
site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance