Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Best and Low cost medical insurance

By Lessardcasey Subscribe to RSS | February 11th 2012 | Views:
loading
 
  



With swirling controversy over the availability of health insurance for all citizens of the United States, it is no wonder that those who live without it are discouraged when seeking low cost medical insurance for themselves and for their loved ones. During the interim between the passage of health care reform by the Obama administration and the actual implementation of the provisions, there are still options available to make sure that you are covered when you find yourself in need of medical care. One of the easiest and most cost-efficient plan that to consider is a health savings account, paired with an “emergency” coverage plan.

To get the maximum benefit from a HSA, you will need to open a specific HAS savings account with an approved bank or financial institution. Most states have approved HSA’s in their territory, and the federal government allows tax-free money to go toward these types of plans. A HSA works by combining very high deductibles health plans, usually provided by major medical insurance companies, with savings accounts. The monthly fees for the health plans are considerably lower than standard plans, due to deductibles as high as $2500 or $5000 yearly. You are then free to take the money you save every month and deposit it into a savings account, where the money will sit there and be available for you to pay the high deductible if the need arises. If you do not fall sick and do not use the money in the savings account, it rolls over every year and is always yours to keep.

Health savings accounts are approved by the federal government for tax-exempt status, meaning that the amount that you invest in the savings portion of the plan is free from taxation on your yearly federal tax return. If you choose to withdraw money from your HAS for expenses not related to health care, you may do so, with the condition that you pay federal taxes on the amount withdrawn. The reason for this is that you did not initially pay taxes on that income prior to depositing it into your HSA.

One negative aspect of this type of plan is that most people tend to neglect seeking medical care for everyday problems, since the money up to the deductible amount will be paid out of their savings account. Neglected care can lead to bigger problems, so if you choose this type of approach to your health care insurance needs, make sure that you treat the money in your HSA as funding for everyday needs, and not for emergencies only. Particularly if you are young or do not have any major ongoing medical needs, this type of low cost medical insurance can save you a lot of money, while still providing the peace of mind that comes with knowing that you are covered.

Lessardcasey - About Author:
Casey Lessard is an expert on health and dental insurance. He has been writing articles on Low cost medical insurance for several years.

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

Article Source:
http://www.articleside.com/insurance-articles/best-and-low-cost-medical-insurance.htm

Related Insurance Articles Subscribe to RSS

Auto insurance: a must for everyone!
Published by Jerry on March 13th 2012 | Insurance
These days, the demand for auto insurance is quite high. People usually buy auto insurance right aft...
 
A preliminary understanding Connected with Car insurance policy Benefits
Published by Shyam Singh on February 23rd 2012 | Insurance
A lot more gas mileage people get, the greater these premiums on the insurance policy will likely be...
 
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 ...
 
All the basic information about having an insurance
Published by Sandra Monroe on July 11th 2012 | Insurance
Having insurance is really essential. It can be much more helpful in any sort of catastrophe. Before...
 
Insurance broker helps acquiring commercial insurance quotes
Published by Andrew Edwards on February 4th 2012 | Insurance
If you don’t have sufficient time to search for commercial insurance online then insurance broker...
 
Learn to find cheaper van insurance
Published by Robmarshall on March 28th 2012 | Insurance
Purchasing cheaper van insurance is not a very difficult task if an individual knows how to go about...
 
Why you should visit my cheap car insurance online
Published by Harrisonford on April 13th 2012 | Insurance
Due to high demand of car loans, the need for car insurance policies is also increasing day by day. ...
 
Medicare supplement plans the best help in better medical coverage
Published by William Richards on December 30th 2011 | Insurance
Get the best benefit of the Medicare supplement plans in order to get the best benefits in relation ...
 
Best insurance lives in South Dakota
Published by Ronnie Brain on January 16th 2012 | Insurance
It is unlawful to drive on the South Dakota roads without auto insurance. If at all you are found vi...
 
Compare Cheap and Affordable nevada long term care insurance Quotes Online
Published by Kym Dicken on November 30th 2011 | Insurance
Long-term care insurance has become very popular in the United States and many other countries with ...
 
Hold unexpected situations with ease, obtain business interruption insurance
Published by Andrew Edwards on February 20th 2012 | Insurance
Fix your business issues quite generously as it is quite important to keep a hold on unexpected situ...
 
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...
 
Where to find cheap van insurance?
Published by Carleson on December 8th 2011 | Insurance
Is finding suitable as well as cheap van insurance driving you crazy? Don’t worry, this article ma...
 
All new drivers should be conversant with laws regarding auto insurance!
Published by Jerry on March 10th 2012 | Insurance
When you are a first time car owner or buyer, there are usually many things that you may need to edu...
 
Complimentary commercial insurance quotes for traders
Published by Andrew Edwards on March 15th 2012 | Insurance
There are basic needs of every trade person which are fulfilled by protective plans...
 
Taxi Insurance Broker Quote will give you help to get a company insurance
Published by Atif Saleem on December 10th 2011 | Insurance
There are many companies that are serving to the costumers but there is also a way to wasting your t...
 
Significance of business interruption insurance for corporate houses
Published by Andrew Edwards on December 14th 2011 | Insurance
To reach the elevation of success we have to plan our business administration programs...
 
The unlimited benefits of purchasing holiday insurance
Published by Marry James on February 27th 2012 | Insurance
There is a tremendous need for all individuals to know the concept behind travel insurance. Holiday ...
 
Tips that can help in getting cheap van insurance
Published by Gregorypeck on February 28th 2012 | Insurance
Previously the use of van was very limited but now people of different professions use it. Buying a ...
 
How to Use Insurance Index to Find Best Car insurance Quotes?
Published by Insurance Inde on January 17th 2012 | Insurance
Insurance has been a very important part in our life be it a life insurance, health insurance and le...