Have questions about Health Savings Account?

Answers:3   |   LastUpdateAt:2012-05-13 16:29:38  

Asked at 2012-05-07 01:49:56
HSA I looked at this site and only found more answers and I'm anxious to see if anything has changed recently. I have my daughter and me in BC / BS and pay about $ 75 a month . The office visits are quite high at $ 50 each time. We are both very healthy and maybe go to the doc once a year. Just wondering if we can have an HSA with it being the only insurance we have? I have read that you must have a high deductible policy to qualify. Is that correct ? thanks
Answer1The Good 1 Answered at 2012-05-07 23:46:04
An HSA is a savings account tax-advantaged that allows you to put in a little over 3K/year for an individual or about $ 6,200 / year if there is a charge . Money is a full tax deduction , it grows tax free, and you can withdraw the money at any time to pay for qualified medical expenses with no tax .

To qualify for an HSA you must join a health plan compatible with HSA. The health plan must have a minimum deductible of $ 1,200 / person or $ 2,400 / if there is a charge . Thus , if $ 2,400 . The difference between this and your current plan is that you wil pay the full cost of any visits to your doctor ' s prescription until you reach your deductible. You can use the money you put into your HSA to pay for these visits the Dr. ' s prescriptions.

A pair of the note. First, although the full cost of visits to your doctor ' s prescription discount you are getting the network ( only network services ) do not pay the fees of the street. In addition, due to the recent health reform plans offer all new preventive care services at no cost , including: annual physical exam , OB GYN visits , mammograms , pap smears, and colonoscopy.
Answer2DoraAnswered at 2012-05-12 12:34:29
You can only open an HSA ( savings account ) If you have a health plan and health plan is a plan qualified high-deductible health ( QHDHP ). Just the fact that this is a high deductible is not adequate . Must be qualified.

Therefore, if you have any other plan QHDHP and then you can open an HSA.
Answer3HenrAnswered at 2012-05-13 16:29:38
1 . An HSA is not insurance .

2 . You can not contribute to an HSA without having a high deductible plan to qualify. However, once the high deductible plan and make contributions to an HSA , you do not have to maintain the high deductible plan . You can still have an HSA when you no longer have the high deductible plan , but can not contribute more to it.
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