-->

Save Money with a Health Savings Account

http://ak.imgfarm.com/images/vicinio/dsp-images/scott.schaffer/asset1_3/1470673176507.png
A health savings account is a good thing to have when you use a health insurance plan. It doesn’t matter if you use a plan through your work or if you pay for it yourself you can use a health savings account. If you have health insurance through your work a health savings account may be a part of your plan. If it’s not or you pay for your health insurance yourself you still have options. You may want to check with your local bank or credit union if your work doesn’t offer a health savings account.

The first thing you need to know is what a health savings account is and how you can save money with this type of account. These types of accounts must be attached to a high-deductible health plan and they must be used to pay for medical, dental, vision, or prescription charges that are either not covered because of your deductible or you can use it to pay for the amount that’s your responsibility.

It’s also important to know when you set up a health savings account the dollars are tax free which means they’re taken out before taxes are, but it’s also important to know you can’t claim these claims on your taxes at the end of the year. It’s important to keep this in mind when you’re decided if you want to create this type of account or not. If you use all of your money and still have claims you’re paying on, you can use those on your taxes. It’s important to keep all receipts so you can show which were paid for by the health spending account and which ones were not.

Unlike a flexible spending account you don’t lose the money left over at the end of the year when you use a health care account. There’s no concern or worry when it comes to putting money into this account because it will always be your money. When you use a flexible spending account any money left over after the end of the year is gone and you can’t get it back. This is why you have to be very careful how much you put into it. The health care account allows you to roll that money over from year to year which gives you the ability to adjust where needed so you have enough each year.

One last benefit of a health care account is the stress you won’t have when you go to the doctor. You won’t have to worry about how you’re going to pay the bill because the money is in your account ready for you to use. When you have a high deductible policy your deductible could range from $2500 to $5000 or more. This makes it hard when don’t have that much money in your checking account, but that won’t be a worry when you use a health care account.

There are many advantages to using a health savings account when you have a high deductible health insurance plan. When you look at the advantages and compare them to the disadvantages you’ll see they don’t compare and you’ll want to use this account if you have the ability. You’ll find you’ll have less stress and you won’t have to worry how you’re going to pay the bill when you go to the doctor or have a prescription to fill.

Save Money with a Health Savings Account

0 Comments

0 comments:

Post a Comment test