Health Savings Account type plans are a combination of a high deductible Health Plan, HDHP, health, and a savings account, HSA together. This kind of plans are less expensive and the prices are more stable. It is the cheapest way to protect yourself and your family.
Every year, re-evaluate their insurance costs for businesses and increase the premiums for their insured group. You need to increase their premiums, because costs increase with the cost ofHealth care. Premiums for HSA type plans have been increasing every year, too, but at a much smaller evaluate. The fact that you are insured for the "little things", responsible for ensuring that the cost of the "Big Stuff" for the insurance company to insure is less. It's a win-win situation for customers and insurance companies.
As I said, there are two parts to an HSA type plan: the HDHP and the HSA.
Let the HSA part.
HealthSavings account is a special account that you open at your local bank. You can deposit money into this account each year be set up to certain limits. For example, a single $ 2700 can contribute to this account. If he does not use this money for medical expenses, the money remains in the account and earn interest. It does not disappear when it is not spent. (It was not related to the Flexible Spending Account, you can at the company of your employer - where the money has not moved in one,FSA is lost!)
Money contributed to the HSA is an event of the tax-deductible. If your tax return is not the end of the year it is a question on the tax form similar to this: How much money do you have at your HSA? Depending on your tax bracket, you will receive a tax deduction and therefore pay less tax as a result of this deposit.
An example: You are in a 28% tax bracket. Your state income tax is 7%. Added, you have $ 35%. If you deposit up to $ 2700into your HSA, you would save 35% of this money to your taxes. This would amount to around 945 $. If you divide the annual savings of 12 you will see that you have reduced your costs for the insurance of $ 78.75 per month. This is a substantial savings.
What do you know the HSA money? An example would be going to the doctor, buying drugs goes to visit to acupuncture to pay for dental care and vision care. As you can see, it is wise to put money into your HSA account, becauseYou end up paying for the medical costs of pre-tax dollars. If you do not use the money it is earning interest, and to top it all, you have a tax deduction only for the deposit of money in the account.
Let's assume that you have a medical buying HSA type plan. If you are like many people, you will find it difficult to pay the insurance premium, even if a lesser amount. The idea of depositing additional funds into a savings account is just not possible.OK, would you rather pay for your doctor visits, medicines, dentists, ophthalmologists, and pre-tax or after tax dollars? Of course you would prefer to pay your costs before the tax man gets a bite of your income. So, here's how you do it.
Go to the health savings account and set the minimum amount in it - maybe $ 100. When to go to the doctor, maybe he will charge $ 60 for the visit. (He can not load you will be his usual $ 150 because you have insurance and he has aAgreement with the assurance that you will be accused of that negotiated price.)
Now, after the fact, that you paid $ 60 in your savings account and because you need the money, write a check for themselves. They have the money from one pocket to another, moving in a certain way, but now you get the tax deduction. I know it sounds too good to be true, but it is perfectly legal. The tax man paid $ 15 $ 60 fee to the doctor.
In summary, it must use the healthSavings Account type plans to save money. Moreover, even if you are on a tight budget, go through the health savings account and you can wash your medical expenses if you must.
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