HSA and its benefits

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PostPosted: Tue Mar 16, 2010 9:47 am   Post subject: HSA and its benefits  

I have some doubts regarding the Health Savings Account. Is it really beneficial for all? Is it an alternative option for a medical insurance policy?

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PostPosted: Wed Mar 17, 2010 5:33 am   Post subject:   

It's actually a medical savings service that enables you to save on the health or medical insurance premiums. It's tax-guarded.

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PostPosted: Thu Mar 18, 2010 8:02 am   Post subject:   

An HSA is quite like that of the IRA. The medical costs are similar for both the IRA and HSA. The rules governing both of these accounts are also similar.

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PostPosted: Fri Mar 19, 2010 4:44 am   Post subject:   

There's a cap till which you may deposit in the HSA every year. Such deposits aren't taxable and you may use them to pay your medical costs any time. You may also use such deposits to pay off your insurance deductible.

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PostPosted: Sun Mar 28, 2010 12:52 am   Post subject:   

Some HSA plans through Anthem Blue Cross cover all preventitive care at 100%. And after you hit your annual deductible they will cover 100% of the costs.

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PostPosted: Tue Mar 30, 2010 10:04 pm   Post subject:   

Very true. In fact, I have an (link deleted by moderator per Terms of Use- InsTeacher) and it has performed well.

Ohio- I had to delete the link...you know you can't place links like that within your post! InsTeacher Cool


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