Health savings account plans

Get a Health Savings Account Plan - The Smart Way to Insure Your Health™

If you're interested in saving money on your health plan, you're at the right place! Over 2 million people have established their own health savings account plans since Jan. 1, 2004 (when the old medical savings accounts became known as health savings accounts). The main reason people switch to an HSA is the huge premium savings realized by switching to a high deductible health plan that is required (under IRS regs) for an HSA plan. Of course, special tax advantages are also a welcome benefit. Establishing a health savings account plan involves a 2-step process: 1. Become insured under a high deductible health plan that is qualified to work with an HSA plan, then 2. Open and begin funding the actual savings account (step 1 comes first, by law). Recommend course of action: Surf our site and learn about HSA plans. It's actually a simple concept (if you feel overwhelmed, you may be "overthinking" the process). Be sure to get quotes for your own personalized plan -- it's actually better to do this sooner rather than later, because the actual savings you can realize usually becomes the deciding factor on whether the HSA makes sense for you. Our agency can help you find the most competitive high deductible health plans from several A-rated insurers. We also help set up your HSA account at one of serveral leading financial institutions. Truly, one-stop shopping for a health savings account plan! TIP: Rates and plan designs are always the same with each company, and there aren't that many companies left marketing health insurance. The only difference, therefore, is in the quality of service you receive from the agent you select! And no--you do not get a "better deal" by going direct to an insurer! Their rates are never "better," and you're usually speaking with an unlicensed individual whose sole purpose is to make his or her "quota" for the week! You actually are better served by a duly licensed agent who independently reepresents many brand-name insurers and whose main purpose is to keep your business for many years to come, by providing quality service up front and down the road, even when it is necessary to switch insurance companies later on. If you already have a high deductible health plan and you're only looking for the savings account you've heard about, you may want to review my White Paper Report to find out: Is My High Deductible Plan HSA-qualified? TIP: Most existing policies with a "high deductible" actually are NOT qualified to work in conjunction with an HSA.
Quick Study: This example illustrates how a typical family health savings account works:

If you're interested in saving money on your health plan, you're at the right place! Over 2 million people have established their own health savings account plans since Jan. 1, 2004 (when the old medical savings accounts became known as health savings accounts). The main reason people switch to an HSA is the huge premium savings realized by switching to a high deductible health plan that is required (under IRS regs) for an HSA plan. Of course, special tax advantages are also a welcome benefit.

Establishing a health savings account plan involves a 2-step process:
1. Become insured under a high deductible health plan that is qualified to work with an HSA plan, then
2. Open and begin funding the actual savings account (step 1 comes first, by law).

Recommend course of action: Surf our site and learn about HSA plans. It's actually a simple concept (if you feel overwhelmed, you may be "overthinking" the process). Be sure to get quotes for your own personalized plan -- it's actually better to do this sooner rather than later, because the actual savings you can realize usually becomes the deciding factor on whether the HSA makes sense for you. Our agency can help you find the most competitive high deductible health plans from several A-rated insurers. We also help set up your HSA account at one of serveral leading financial institutions. Truly, one-stop shopping for a health savings account plan!

TIP: Rates and plan designs are always the same with each company, and there aren't that many companies left marketing health insurance. The only difference, therefore, is in the quality of service you receive from the agent you select! And no--you do not get a "better deal" by going direct to an insurer! Their rates are never "better," and you're usually speaking with an unlicensed individual whose sole purpose is to make his or her "quota" for the week! You actually are better served by a duly licensed agent who independently reepresents many brand-name insurers and whose main purpose is to keep your business for many years to come, by providing quality service up front and down the road, even when it is necessary to switch insurance companies later on.

If you already have a high deductible health plan and you're only looking for the savings account you've heard about, you may want to review my White Paper Report to find out: Is My High Deductible Plan HSA-qualified? TIP: Most existing policies with a "high deductible" actually are NOT qualified to work in conjunction with an HSA.

Quick Study: This example illustrates how a typical family health savings account works:

Bob and Carol are in their 40's with 2 children living in the greater Mobile, Alabama area. They live a typical life in the 'burbs, even to the extent of replacing their gas guzzler with a hybrid. When their prior medical plan jumped from $620/month to $750/month, they called us for help.

First, we realized that they are ideal candidates for a health savings account plan for several reasons, including: they A) pay their own premiums; B) never get sick; and C) rarely go to the Doctor. (If this sounds like you, then you may also be an ideal candidate for a health savings plan.)

We recommended an HSA plan with a $7,500 family deductible that pays 100% of covered expenses after the deductible is met (deductible features vary from plan-to-plan). Because they have two children, they opted to add a benefit that reduces their deductible to only $100 in the event of accidents. Even with the added cost of the accident deductible buy-down, their total monthly premium was only $365/month, or $4,380/year (illustrative only - premiums and coverage vary on a case-by-case basis).

	Old Plan	HSA Plan
Deductible	$2,000 (per person, max of 3 per year)	Sickness $7,500 (family)	Accident $100
Co-insurance	80%/20% of next $10,000 (per person, max of 3 per year)	100% after deductible
Total exposure	$12,000* ($4,000 per person x 3 max/year)	$7,500 - sickness $ 100 - accident
Premiums paid	$9,000	$4,380
Premiums saved	n/a	$4,620
Tax savings (on HSA deposits)	$0	$1,624 ($5,800 HSA deposit x 28%) Note that $4,620 of the $5,800 came from premium savings on the prior plan
Net savings with HSA health savings account plan		$6,244
*The old plan also included co-pays for Dr's visits ($30) and Rx drugs ($15-generic). By law, an HSA plan includes no pre-deductible co-pays for routine care or treatment, except that optional co-pays may be included for preventative care. Incidentals such as dental, eyecare, etc., would entail additional expenses under each plan and have been omitted for simplicity. Under an HSA plan, many expenses including dental and eyecare can be paid with tax-free HSA dollars. Different insurers offer different HSA plan options.

This is cool. Notice who is actually covering most of their routine medical bills now under the HSA plan--their old health plan and Uncle Sam! That's because their premium and tax savings combined were almost enough to fully fund the actual HSA account! But what if they don't need to tap the account? What if they remain healthy?

Here's the secret as to why families such as Bob & Carol's enroll in health savings account plans:
If they remain healthy, they get to keep all of that money they are saving! It's a bet that makes more sense than continuing to over-pay by thousands of dollars a year for the "bells & whistles" in a fancy health plan. Even in the worst case scenario, they're really no worse off than they were, and perhaps even ahead.

How much could you save with a health savings account plan?
There's only one way to find out - get some quotes! If the concept makes sense, then getting quotes for the high deductible medical insurance policy that is required for an HSA savings plan is the next logical step. Knowing your actual HSA plan premium is the key factor in determining whether an HSA makes sense for your family. In other words, all of the research in the world is irrelevant if your actual premiums are going to be too high to justify adoption of the plan. And no--the HSA actually does not make sense for everyone, usually because of higher than anticipated premiums or insurability issues. The longer you wait, the more money you'll keep throwing away on over-priced plans. All you need - is a good agent. (For a quick read on the ups and downs of an HSA,, read my White Paper Report: 7 things you should know about an HSA.)

Service you can trust - from our nationwide insurance agency
Our promise to you: When you deal with our agency, you deal only with our agency! Unlike the majority of so-called insurance sites on the net (that have no licensed agent behind them), we are an actual brick and mortar insurance brokerage that happens to be licensed in about 35 states. Online marketing has become our primary business, and we deal only with high deductible health plans from major, brand-name carriers. Our reputation is on the line with every recommendation we make. Give us a chance to compete for your health insurance business -- even if you do not want an HSA plan, we can still save you some serious money will keeping you properly insured. We'll do everything possible to make the experience a pleasant one. Thanks for visiting our site!

Get a Health Savings Account Plan - The Smart Way to Insure Your Health™

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