|
What is Consumer-Driven Healthcare? The consumer-driven healthcare revolution is represented in the insurance industry by the emergence of the health savings account (HSA). This is a savings account (like a bank account) that allows you to save tax-deferred money for healthcare expenses whenever you might need it. You can take the money out without paying tax, as long as you're using it for healthcare expenses. The Health Savings Account allows people to use a much higher deductible on their health insurance, reducing the cost of insurance payments by 40%, 60% or even 80%. My wife and I would pay about $1000/month for low-deductible health insurance. But with a high-deductible plan and an HSA, we pay $175. That's an $825, or 82.5% savings every month, $9,900 a year. That buys a lot of yoga classes, or acupuncture treatments, or massage therapy. Or it can go towards a very nice retirement savings. Or a car after two years. Whatever we like. « Previous Page « » Discuss it » Continue Reading »
» Submit a comment or contribute to this article
Read More Articles, They Are Related to This Topic:;
What To Look For In Good Health Insurance
Health insurance is a kind of protection that provides payment of benefits for covered sickness or injury. Included in health insurance are various... Read more »
Medical Bills - Evaluating Your Personal Injury Insurance Claim
The value of a personal injury claim has a direct relationship to the amount of your medical bills. Why? Because a claim with medical bills of... Read more »
Health Insurance And Insurance Brokers
If you are in the market to purchase your own health insurance coverage you can save yourself precious time and money by shopping and comparing... Read more »
Health Insurance 101 For Individuals And Families
The changing healthcare and health insurance landscape in the United States has resulted in more individuals and families purchasing health insurance... Read more »
Self Employed Health Insurance - Tips For Getting Cheap Health Insurance When Youre Self Employed
If you're self-employed and facing high health insurance bills, there are a number of things you can do to make your health insurance premiums... Read more »
| 
