buyer Directed health Plans - Are They Only For healthy People?

Life Insurance Premiums Tax Deductible - buyer Directed health Plans - Are They Only For healthy People?

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High deductible insurance plans (Hdhp's) seem like a no-brainer when you're in good health. In fact, Cdh plans are often the option for population who feel like they're paying way too much for coverage that they rarely use.

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Life Insurance Premiums Tax Deductible

But what happens if your health takes a turn for the worse? Would your life savings be eaten away by curative bills? If you became critically ill or industrialized a continuing health condition, would a Cdh plan still work for you?

Limited exposure.

All Cdh plans come with a clearly stated - and federally mandated - out of pocket maximum. For 2010, that maximum is ,950 for individuals and ,900 for families. Once you've paid that whole out of pocket, your plan pays for all covered curative expenses. And unlike former health plans, your co-pays and designate costs are applied to the out-of-pocket maximum.

Read the fine print.

Sounds great, right? But before you pick any plan, it's essential that you take a close look at the details and make sure that the plan doesn't have any arbitrary coverage rules that would leave you in the lurch when you're most vulnerable.

Here's what to avoid when you're choosing a plan:

o Plans with "limited benefits" or coverage limits under 0,000
o Uncovered services. If a service isn't explicitly listed as covered, assume that it's not.
o Benefits limits on specific categories, like hospital stays.
o Random loopholes, like not exterior a hospital stay until the second day, which isn't much help if you have your k surgery on day 1!
o Plans that don't count expenses like co-pay's and prescriptions toward the out-of-pocket cap.

Is it the right fit?

Critics of Cdh plans claim that population with continuing health problems will never be able to take benefit of the tax-saving and wealth-building features of the health Savings Accounts (Hsa's) that come with the plans. However, you may find that your potential savings in premium costs make Cdh plans worth checking out. So, when you're production your plan choice, weigh all of your options. Poor health - now or in the future - doesn't automatically make a Cdh plan a poor fit for you.

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