Has anyone here switched over from "regular' health insurance or no insurance
This is more like what traditional major medical insurance plans had. Otherwise, your family must meet the family deductible even if only one person had the medical conditions- Hi, Kim. A health savings accounts does not take the place of insurance. The amount you can contribute to the account is either $2, 500 or $3, 000 per year. Tax deductible. The exact amount escapes me. Medical bills are not tax deductible until one reaches the 7% aggregate of deductible expenses. By putting money into a HSA, you can deduct, obviously, dollar one. It's used to pay your co - pays if you have insurance, your initial deductible, whatever. It is not a subs ute for a full health insurance policy, but is a great adjunct. Here's more: treas. gov / offices / public - affairs / hsa / - Your back - up policy must have a deductible of "so much" in order to be eligible for an HSA. I think it's $1200
- I have never heard of that, Kim. Not sure how it differs from a regular ol' savings acct. But it does make me think there might be ways to get a large group of people to pool money privately to provide their own insurance. Perhaps it works that way?
- as of July, i am uninsured. just what has to happen for now!. no money honey!
- treas. gov / offices / public - affairs / hsa /
- If you do not use the entire amount that you allocate to a health savings plan, you lose it at the end of the year. Just something to consider
- I did not know there was a health savings account plan available
- Yes I did and, as a former actuary, I think it is an excellent system. It is probably the best model we have today but it can stand some improvements. First, it is coupled with a high deductible major medical plan. Properly arranged, the premiums and all money put into the savings account are untaxed, even by Social Security and Medicare taxes. The savings account is used to pay the bills that are not covered by the insurance, including the deductible. Therefore ALL your medical bills are paid with pre - tax dollars. In addition, you are not paying for the insurer's overhead and profits on the bills you pay yourself, out of your saving account funded with pre - tax dollars. One of the principles of good insurance is to only insure against something that is highly unlikely to happen but if it does, it is financially devastating. Another principle is that the cheapest insurance is self - insurance. An H. S. A. meets that very well. As to the cons, when one starts such a plan, the savings may not have built up enough when catastrophe hits. Newer plans are taking that into account with some supplemental coverage. Another flaw in today's plans is providing first dollar coverage that does not meet the definition of an insurable event principle one. That might be an annual physical. In my opinion, such costs are normal maintenance, like oil changes for your car. They could be conditions to keep one in a better premium cl rather than something the plan covers
Knowledge Base
I major medical insurance before. What is an HMO or a PPO?
my choices are cigna for hmo and blue cross blue shield for ppo. ppo - you can usually choose your own doctors with that and go out of network. ppo is much better. you can choose from many different doctor with in your network. and go outside your network, with (medical transcription)
What is global international medical insurance?
hi. what is the most comprehensive individual - policy medical insurance that includes prescription drug coverage? i want to teach english in china someday and it depresses me that i will not be able to retain my job's medical insurance for usa coverage. i'd have to purchase my own. i (health medicine)
Does buy individual medical insurance? Epileptic reasons!?
insurance expired. check the phone book under insurance or just reinstate with your old company. i do not think any medical insurance will cover any pre existing contions and will be able to sell you an insurance ?. did you have health insurance through work and then left the job, (medical schools)
Knowledge Base: Medical Insurance
How much is private medical insurance?
such as bupa? just looking for an average before i ring for a real quote to know if i stand any chance of being able to afford it!. the cost all depends upon age, health, weight, coverage, deductible. the only way you will know is to either go to on (self employed medical insurance)
How would private medical insurance companies Handel a pandemic flu out break?
i know republicans are so dead set against universal health care. people with out medical care will certainly spread disease with out even knowing it. poor working cl people who can not afford medical insurance will certainly go to work with the flu or risk losing their income. people who (individual medical insurance)
How long does an insurance company need to approve a medical insurance application?
my medical insurance has expired and i have just decided which one to buy next. how long does an insurance company need to approve an application and get it activated? i have no medical insurance right now so i am kinda worry because of the swine flu. depending on the (cheap medical insurance)
What kind of medical insurance do you recommend?
i am getting jaw surgery within year or two. it is for medical reason. i need to find insurance that can help me to cover the cost. what kind insurance do you recommend and how much will be premium will be? doctor told me, the surgery will cost about 15000 (no medical insurance)
Understanding medical / health insurance quote?
i recently got a quote for a health insurnace, but i am not sure i have a proper understanding what they mean. in network: deductible ind / fam - 2500 / 5000 co - insurance - 80% maximum out - of - pocket - 5000 / 10000 then some co (individual medical insurance)
Knowledge Base: Major Medical Insurance
Question carrying Major Medical Insurance policies on 1 individual?
my wife and i are having a kid and we both have hmos from our individual employers. we both have high deductibles and ultimately similar coverage. a friend who is not in the insurance business recommended we double insure our new born son when he arrives just to insure he (major medical insurance)
Has anyone here switched over from "regular' health insurance or no insurance
this is more like what traditional major medical insurance plans had. otherwise, your family must meet the family deductible even if only one person had the medical conditions. treas. gov / offices / public - affairs / hsa / . yes i did and, as a former actuary, i think (major medical insurance)
Can I buy major medical insurance my horse?
i want to purchase an insurance policy for my 8 yr old american warmblood gelding. i only want major medical / surgical and loss of use, not mortality insurance. does any one know any good policies in the usa? my gelding is used for low level hunters and is valued (major medical insurance)
34 year healthy single male medical insurance major auto accident. What to him?
34 year old healthy single male without medical insurance gets into major auto accident he only has liability auto insurance cause that's all he can afford. what happens to him? he rents a one bedroom apartment, makes minimum wage & only thing he owns is his 10 year old geo (major medical insurance)
Looking information on Major Medical Insurance?
i am going to be self employed in the near future and want to start shopping for major medical. i literally know nothing about it. what should i be looking for? what kinds of prices should i expect? any feedback from anyone who has purchased their own major medical policy? (major medical insurance)
