Are you shopping around for a new health insurance plan?  If so in this article I’m going show you an option to getting great health coverage a minimal price.  In this article I’m going to cover HSA health insurance plans and how they can benefit you.

Lower Premiums

The first benefit HSA plans offer is that will typically have lower premiums than your normal major medical plans.  This is because HSA accounts are use in conjunction with high deductible health plans.

This allow some to cut their cost of a health insurance plan by 40% to 60%.  By doing this you can then save what you were paying toward your major medical plan and use it to cover the high deductible instead.

This also good because it will make you aware of the money you spend on your health insurance and over time drive down medical cost overall.

Tax Deductible

Second, HSA accounts are tax deductible safe investment account, meaning that if spend any of the money on a qualified medical expense you will be able to write that expense off on your taxes.  In the end this means you will pay less to Uncle Sam and more to you. These accounts are also invested in fixed account to help preserve the value.

The best part about this is that you will be able to deduct everything from the copay at a doctors visit to buying Tylenol at Walmart.  However you will have to watch out for changes in this law.  Recent legislation has changed some of these provision, in fact in 2011 you will no longer be able to deduct over the counter medication.  So just be aware that this could happen.

A Final Thought…

Finally, as a final thought to this article if you would like to learn more about how to set up you own HSA plan simply contact you local insurance agent and ask them to run an illustration showing how this plan could possibly work for you.