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

Alfa Romeo 159 car insurance is the best way for the safety
Published by Kaisar on January 2nd 2012 | Insurance
So you should hurry find the best Alfa Romeo Brera car insurance company and purchase the insurance ...
 
Getting a cheap van insurance
Published by Robmarshall on March 1st 2012 | Insurance
Previously vans were only used for commercial purpose i.e. for hauling people and goods from one pla...
 
Cherishment for businesses, searching for commercial insurance
Published by Andrew Edwards on May 7th 2012 | Insurance
While hoping for successful running business, you have to plan everything according to market needs...
 
What will influence the cost of your income protection insurance?
Published by Jenymorison on December 9th 2011 | Insurance
If you have decided to purchase income protection insurance for yourself then surely it can prove to...
 
Maine- Just where to get the best auto insurance
Published by Insuranceindian Aauto on January 14th 2012 | Finance
If at all you are seeking auto insurance in Maine, then auto insurance Maine is the best option for ...
 
Help yourself by knowing more about auto insurance!
Published by Jerry on March 14th 2012 | Insurance
There are many people who find auto insurance quite confusing and tricky. It is because of this reas...
 
Manage your business effortlessly with commercial insurance
Published by Andrew Edwards on February 16th 2012 | Insurance
If you are running a business either it is large or small, then you will understand the importance...
 
Importance of insurance coverage while comparing car insurance
Published by Geenadavis on April 21st 2012 | Insurance
You might be paying huge amount of money for your car insurance and now you have realized the truth ...
 
Importance of one’s own vehicles insurance
Published by Shyam Singh on March 2nd 2012 | Insurance
Suit one’s own insurance policy with each of your must have: Ones own vehicles insurance must have...
 
Best and Inexpensive health insurance
Published by Lessardcasey on February 11th 2012 | Insurance
The place to start to search for inexpensive health insurance if you have a low income or if you hav...
 
Getting cheapest van insurance quotes
Published by Robmarshall on March 1st 2012 | Insurance
You are looking for the cheap van insurance online quote, you have to look at a lot of different com...
 
Inexpensive health insurance
Published by Lessardcasey on November 30th 2011 | Insurance
For those of us not fortunate enough to have group dental insurance offered through ours or our spou...
 
Best and Low cost medical insurance
Published by Lessardcasey on February 11th 2012 | Insurance
With swirling controversy over the availability of health insurance for all citizens of the United S...
 
Say no to restriction imposed by cheap classic car insurance lenders
Published by Anneshirley on April 12th 2012 | Insurance
Classic car are the heritage cars, so if you own one then you are the lucky person on earth. It is a...
 
Efficient ways to get cheap car insurance
Published by Robmichae on March 2nd 2012 | Insurance
It was never this easy to get the car insurance quotes. With your fast internet browsing speed you c...
 
What do self-employed people need to know about health insurance?
Published by Andrew Low on February 10th 2012 | Insurance
If you live in the UK and take out health insurance, it is unlikely that you will be able to offset ...
 
Vermont car insurance
Published by Usautoinsurances on January 17th 2012 | Insurance
You have to carry your Vermont auto insurance all the time you are driving on the Vermont roads. It ...
 
A quick guide to reducing your auto insurance premium rates
Published by Jerry on March 10th 2012 | Insurance
In this day and age, it has become very important that one tries to get a decent means of transport....
 
Fast tips and advices related to auto insurance
Published by Jerry on March 13th 2012 | Insurance
Insurance refers to a specific type of management that compensates the loss of a valuable asset. Th...
 
Tips to find the best car insurance comparison sites
Published by Geenadavis on February 25th 2012 | Insurance
Shopping around for the cheap auto insurance online can be a challenging task if you do not know how...