buyer Driven health Plan Secrets - Your marvelous clarification to Rising Healthcare Costs

Are Health Insurance Premiums Pre-tax - buyer Driven health Plan Secrets - Your marvelous clarification to Rising Healthcare Costs

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Using a consumer driven health plan can be an affordable and efficient solution in driving down the high cost of health assurance coverage.  There are two parts, and many benefits to a consumer driven health plan.  Here's how they work:

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Are Health Insurance Premiums Pre-tax

The health Savings account (Hsa)

The first component of a consumer driven plan solution is the health savings account, or Hsa.  Essentially it's a checking account, with a debit card. It is a tax advantaged financial account, that allows you to deposit money pre-tax, to pay for future medical, dental, and foresight expenses, tax free.  In my opinion, it's not the main benefit, but it's a pretty big one.

The great High Deductible health Plan (Qhdhp)

The second part of a consumer driven plan is the great high deductible health plan, or Qhdhp.  This is a major medical, or catastrophic health pan, with a high deductible.  It replaces your current health plan, if you have one, and only covers the "big stuff."  The medical deductibles on these plans range from ,500 to ,000 per individual, and ,000 to ,000 per family.  The higher deductible you choose, the lower your monthly premium.

The great thing about some of these plan is that they still allow you to have one yearly physical per year.  Also, some plans cover 100% of your medical expenses after you've met the deductible.  That's more than most traditional plans can claim.  On top of that, high deductible health plans often have high lifetime maximum benefit, adding extra protection for major medical expenses.  In some ways, high deductible health plans are best than traditional health plans.

The Big Benefits

1. Because the cost of Qhdhp's is so much lower than plans most Americans are used to, they offer an exquisite financial solution to rising health assurance costs.  You can nothing else but save thousands of dollars per year in health assurance premiums by switching to a Qhdhp.

2. Having a health savings account at your disposal, in case you do have medical expenses, can prove to be an invaluable tool, since it allows you to pay for medical expenses (and more) with pre-tax money.  If you're in a medium or high tax bracket, this can prove to be a huge benefit.

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