Would You Use A Health Savings Account?
- Date: 2008-06-23 - Word Count: 384
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While Health Savings Accounts might work for some people, they may not be the answer others need for health insurance needs. Contributions to a Health Savings Account might be an issue.
Since the advent of Health Savings Accounts in 2003 there's been a lot of discussion on the viability of using them. Billed as a way to help millions of Americans save for qualified medical and retiree health expenses on a tax-free basis, the HSAs garnered a terrific amount of press coverage.
It seems out of sight out of mind is applicable in 2008. Many people don't appear to have enough information about HSAs to make an informed decision. Many don't understand quite how they work. The more important question though is really if they would even open an account in the first place.
That might seem to be an odd observation. People should be interested in opening a Health Savings Account because it benefits them and their families. Let's revisit that assumption. It may benefit individuals and families.
Along with the question of whether or not an individual would actually open a Health Savings Account is the question of whether or not they would even contribute to it. It means setting money aside on a regular basis to make the account grow. If the account does not grow, it won't do anyone any good, now or in the future. The point behind having a Health Savings Account is to save money for medical expenses. If no money is saved, no one has benefited.
Having a Health Savings Account is different than having a co-pay plan. So different, that many families who have tried using HSAs discover they don't like paying the high costs of a doctor's visit, and want to switch back to co-pay. Many people prefer the idea of a co-pay plan because it means their costs are lower when they make that trek to a physician.
In order to figure out what plan works for you or for you family, it makes sense to talk to a qualified insurance broker. They have the real scoop on the differences between a co-pay plan and a Health Savings Account, and can help you walk through the various options available. It's the best way to get a plan that fits you to a T.
Since the advent of Health Savings Accounts in 2003 there's been a lot of discussion on the viability of using them. Billed as a way to help millions of Americans save for qualified medical and retiree health expenses on a tax-free basis, the HSAs garnered a terrific amount of press coverage.
It seems out of sight out of mind is applicable in 2008. Many people don't appear to have enough information about HSAs to make an informed decision. Many don't understand quite how they work. The more important question though is really if they would even open an account in the first place.
That might seem to be an odd observation. People should be interested in opening a Health Savings Account because it benefits them and their families. Let's revisit that assumption. It may benefit individuals and families.
Along with the question of whether or not an individual would actually open a Health Savings Account is the question of whether or not they would even contribute to it. It means setting money aside on a regular basis to make the account grow. If the account does not grow, it won't do anyone any good, now or in the future. The point behind having a Health Savings Account is to save money for medical expenses. If no money is saved, no one has benefited.
Having a Health Savings Account is different than having a co-pay plan. So different, that many families who have tried using HSAs discover they don't like paying the high costs of a doctor's visit, and want to switch back to co-pay. Many people prefer the idea of a co-pay plan because it means their costs are lower when they make that trek to a physician.
In order to figure out what plan works for you or for you family, it makes sense to talk to a qualified insurance broker. They have the real scoop on the differences between a co-pay plan and a Health Savings Account, and can help you walk through the various options available. It's the best way to get a plan that fits you to a T.
Related Tags: texas health insurance, texas life insurance, texas medicare supplements
Richard Cantu is with Texas Health and Life, a Texas health insurance and Texas life insurance agency in Texas. To learn more, visit www.texashealthandlife.com Your Article Search Directory : Find in Articles
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