HSA (Health Savings Account) Plans

There are two benefits with a high deductible, HSA compatible insurance plan:

1. The premium is generally about half of a traditional copay plan and

2. You can take advantage of tax benefits

3. Generally speaking, many of the benefits of “old fashioned” PPO and HMO plans are, what may be considered, “phantom insurance.” That is, you pay the insurance company more money per month for various coverages than you can likely receive in benefits.

For example, to provide you with a discount of $30-50 on an office visit, the insurance carrier may have to charge you $100 per month. If you go to the doctor 6 times a year (which would be a great deal of most people), you are receiving a benefit of maybe $300 with a premium charge of $1,200. That is “phantom insurance.”

HSA plans are designed to limit the total amount you might need to pay in any given year. Rather than helping to pay expenses you can afford to pay, you receive a much more important benefit – keeping you from high out of pocket costs.

Using Anthem Blue Cross as an example, a 45 year old can purchase an HSA plan with a maximum out of pocket of $5,000 but including first dollar coverage for preventative care in zip code 91316 for a monthly cost of $148.00. To purchase a similar out of pocket using one of the older copay plans, that same person might spend $466.00.

The value of allowing us to help you with your insurance choices is that we will show you how all the options will allow you to become a better health insurance consumer. You won’t get this from simply using an “instant quote” site.