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July 21, 2010
Health Savings Accounts Are Still Popular after Healthcare Reform
All the recent changes in health care haven't reduced the popularity of Health Savings Accounts. In fact, employers are offering Health Savings Accounts more often as a less expensive way to cover employees. According to America’s Health Insurance Plans, more than 10 million individuals enjoy the tax-free interest and tax-deductible healthcare expenses that come with Health Savings Accounts.
Why are Health Savings Accounts appealing to more people? With the rising cost of healthcare, the high-deductible health insurance plans that work with these savings accounts typically keep premiums low. Preventive care and wellness check-ups are not subject to a deductible, though, so it's still easy to get physicals and mammograms. These types of exams are usually covered at 100 percent and do not require any co-pays.
These high-deductible plans also limit your out-of-pocket expenses, such as $5,950 per year for an individual or $11,900 per year for a family. Both employees and their employers can contribute to a Health Savings Account, and contributions are pre-tax.
Some argue that high-deductible plans keep people from seeing a doctor very often, but internal studies from major private insurers such as UnitedHealthcare, WellPoint, Aetna, and Cigna indicate that people with high-deductible health savings accounts exhibit better health habits than many people with more traditional health insurance coverage.
If you want to see what a Health Savings Account (HSA) can do for you, visit HSA for America, or give them us call at 866 749-2039. With their years of experience, they are the "go to guys" for Health Savings Accounts and they're happy to answer your questions and help you enroll with no charge for their services.
Posted by Wiley Long at July 21, 2010 09:53 AM