Is an HSA a Type of Insurance?
A Health Savings Account (HSA) is not a type of health insurance. But that's an easy mistake to make! HSAs are closely associated to health insurance, although they do not provide any insurance benefits themselves. Think of an HSA as a special type of savings account. It's a savings account where: You can put money in and get a tax deduction. You can take money out anytime, as long as the money gets used for medical purposes. That's an HSA in a nutshell. But it's worth talking about a few more specifics. You need to get an HSA from a special HSA custodian. Any business that can create an Individual Retirement Account (IRA) can also create an HSA for you. That includes many banks, insurance agents and financial advisors. In order to qualify for an HSA, you must already have a health insurance policy. But not just any health insurance policy will do. It must be a "high deductible" health insurance policy. "High" means that the deductible (the amount you pay before the insurance starts to kick in each year) must be at least $1,000 for an individual or $2,000 for a family. That's the minimum. Any deductible you have on a policy that is higher than that is okay too. You can be employed or unemployed. As long as the insurance you have (through your employer or by yourself) has a high enough deductible, you're all set. Health Savings Accounts will change how we think of health insurance. They are a wonderful tool that almost every American can and should benefit from. And they're available today! Daryl Kulak is the author of the book "Health Insurance Off the Grid - A Wonderful Way to Use Alternative Medicine and Save Money on Insurance Using the New Health Savings Account (HSA)." The book provides a nine-step plan to get your individual health insurance costs under control using a unique approach you won't find anywhere else. The book is available as an e-Book or paperback at the Website http://www.healthoffthegrid.com
MORE RESOURCES:
Something in the way he livedNewsday, NY - 3 hours agoBY ROBERT KAHN | robert.kahn@newsday.com A Hofstra University professor who studied yoga with George Harrison leads a tribute concert to the late Beatles ... |
Yoga in a chairLouisville Courier-Journal, KY - 2 hours agoBy Darla Carter • dcarter@courier-journal.com • November 20, 2008 If the idea of getting down on the floor to strike a yoga pose makes you say, "Ouch! ... |
Teacher uses yoga to inspire studentsSun-Sentinel.com, FL - 4 hours ago"Yoga is a powerful tool to help students and teachers relieve stress and gain inner strength and concentration," she said. "The sessions are brief, ... |
Yoga Could be DangerousKUTV, UT - 13 hours agoAt first glance, yoga may look hard, even painful. And if you are not careful, you could really hurt yourself. Studies show that yoga can help you gain ... |
Urban yoga: finding inner peace in the cityABC15.com (KNXV-TV), AZ - 20 hours agoWith the usually hectic holiday season kicking off, a brand new yoga sanctuary and studio has opened up in Phoenix. Be kind to yourself by accepting where ... |
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