Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Affordable Ohio Health Insurance with an HSA-qualified HDHP Plan

By Tracy McManamon Subscribe to RSS | January 10th 2012 | Views:
loading
 
  



With the IRS announcing the cost-of-living adjustments affecting Health Savings Accounts (HSAs), HSA contribution limits and High Deductible Health Plans (HDHP) out-of-pocket maximums will see slight increases in 2012. HDHP minimum required deductibles remain the same as in the last two years. With some professional guidance, you can easily find affordable Ohio health insurance with an HSA-qualified HDHP.

Health Savings Accounts (HSAs) help you set aside tax-free dollars to pay for qualified medical expenses. If you have a High Deductible Health Plan (HDHP), you need to make payments up to a certain yearly deductible amount before your insurance plan begins to pay for any benefits. One of the biggest advantages of having an HDHP is that it allows you to enroll in the tax-advantaged HSA. In fact, an HSA is available only if you have an HDHP.

Ohio HSA-HDHP Plans – Changes to Note

If you have an Ohio HSA-HDHP plan or are considering one, it’s important to note the changes for HSA contribution limits and HDHP out-of-pocket maximum changes in 2012:

• HSA Contribution Limits:

- Individual (self-only HDHP): $3,100 ($50 increase from 2011)

- Family: $6,250 ($100 increase from 2011)

• HDHP Out-of-pocket Maximums:

- Self-only: $6,050 (a $100 increase from 2011)

- Family: $12,100 (a $200 increase from 2011)

Some things have remained unchanged from 2011: Limits for catch-up contributions (for persons over age 55) are still $1,000. Similarly, HDHP Minimum Required Deductibles are the same as last year with self-only HDHP coverage at $1,200 and family HDHP coverage at $2,400.

One important restriction that came into effect in 2011 was regarding the use of HSA, Flexible Spending Account (FSA), Health Reimbursement Account (HRA) funds. Law passed in 2011 allows individuals with these accounts to purchase over-the-counter (OTC) medications (except insulin) only using prescriptions. Those who use the funds in these savings accounts inappropriately will have to pay a tax on the purchase as well as a 20 percent penalty.

Enrolling in a Plan to Meet Your Needs

Leading Ohio insurance companies such as Anthem Blue Cross Blue Shield, United Healthcare, Medical Mutual of Ohio, Aetna, Golden Rule and Humana offer affordable Ohio HSA-qualified HDHP plans. The best way to find an Ohio health insurance plan that fits your needs is to get professional guidance from an experienced Ohio health insurance broker based in Ohio. A reliable agent will discuss your eligibility for HSA health insurance Ohio, research your options and help you choose an affordable plan.

Tracy McManamon - About Author:
Tracy McManamon is an Ohio health insurance consultant at One Source Benefits. As a licensed broker with over 25 years experience, he provides the lowest possible rates for health insurance Ohio plans with free quotes.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/affordable-ohio-health-insurance-with-an-hsa-qualified-hdhp-plan.htm

Related Insurance Articles Subscribe to RSS

Importance of getting life and medical insurance while residing in Dubai
Published by Andy Robert on January 22nd 2012 | Insurance
There are many insurance policy companies operating in UAE. The life style of residents of Dubai dem...
 
Car insurance comparison site – best way to find cheap car insurance
Published by Jameshaven on March 16th 2012 | Insurance
Anybody who purchases or drives a car will require car insurance coverage. If you do not have insura...
 
Securing your vehicle with Arkansas auto insurance
Published by Auto Insurances on January 14th 2012 | Finance
Who doesn’t want his or her vehicle to be secured from every kind of accident or incident? Of cour...
 
General and special coverage with commercial insurance
Published by Andrew Edwards on March 2nd 2012 | Insurance
Safe business is prime requirement for us; it gives us plenty of advantages which can be utilized...
 
Why I need employers’ liability insurance and how to buy that?
Published by Andrew Edwards on December 27th 2011 | Insurance
People ask the question about employers’ liability insurance most often...
 
Just where to get the best car insurance packages in Ohio
Published by Usautoinsurances on January 17th 2012 | Insurance
It is illegal to drive your car on the Ohio highways without proper auto insurance. Some people shun...
 
Commercial insurance: Perfect Plan designed for small businesses
Published by Andrew Edwards on April 2nd 2012 | Insurance
Consider the plan next time while starting a small business and don’t have sound knowledge of the ...
 
Impact of ignorance of employers’ liability insurance
Published by Andrew Edwards on March 17th 2012 | Insurance
There can be a huge impact faced by business owners after neglecting employer’s liability insuranc...
 
Include product liability insurance in investment plans
Published by Andrew Edwards on December 13th 2011 | Insurance
Product liability arrives at head when consumer or workers take off injury with the product...
 
Extraordinary advantages of winter sports insurance for sports enthusiasts
Published by Marry James on February 27th 2012 | Insurance
It is so surprising to know that there is insurance for anything and everything in this world. Thoug...
 
Operational liability affairs unravel by commercial general liability insurance
Published by Andrew Edwards on March 21st 2012 | Insurance
Here we are going to make the decision on commercial level plans which are making it possible...
 
Terms associated with commercial liability insurance
Published by Andrew Edwards on January 14th 2012 | Insurance
Anyone running a business knows importance of commercial liability insurance...
 
Georgia health insurance plan supports you during your bad time
Published by Ricky Martin on June 20th 2012 | Insurance
Whenever you are in trouble, you need some helping hand at that time. Those phases called bad times ...
 
The many ways to get Dubai medical insurance
Published by Andy Robert on December 7th 2011 | Insurance
With the growth and expansion in Dubai, many positives steps are being taken by local authorities an...
 
Cheaper van insurance – a few ways to find the best possible deal
Published by Robmarshall on April 16th 2012 | Insurance
If you are seeking cheaper van insurance, then you are not the only person who is searching. There a...
 
Get your health cover from Georgia health insurance plan
Published by Ricky Martin on June 20th 2012 | Insurance
People can cover their health related issues from Georgia health insurance plan, and can enjoy your ...
 
Car insurance at its best in North Dakota
Published by Usautoinsurances on January 16th 2012 | Insurance
It is illegal to drive on the North Dakota roads without proper auto insurance. This is also the ca...
 
Dental insurance plans
Published by Lessardcasey on January 13th 2012 | Insurance
Most people have experienced the unpleasant feeling of a cavity or other nagging tooth problems. How...
 
Basic need of business insurance rates for comparison
Published by Andrew Edwards on January 11th 2012 | Insurance
If you are planning to buy insurance for business, then at first look at the different business insu...
 
Expert in different types of insurance and customized insurance services
Published by Caden on June 14th 2012 | Insurance
Insurance Express is an insurance provider of auto, car, commercial or business insurance etc. Other...