Wednesday, January 27, 2010

What Is A Health Savings Account

Have you noticed all the different health insurance options in circulation out there? PPO, HMO, and HSA, to name a few. Have you ever wondered what they do, all how much you need, or better yet, what are all those abbreviations mean? Probably so! Well, here are some key points to help you understand what types of insurance is best for you.

A major form of health insurance is the Health Savings Account (HSA). Some important pointsIf you know HSAs are:

It is a major medical policy with a high deductible and low premium.An great way to control your monthly premium while saving for all future costs have.You up to 70% on your bonus, you save money that can be used tax-free medical expenses.The amount in your HSA rolls over from year to year saved, so the savings can win earnings.You interest or investment money from the account tax -Penalty free, if needed for medical expenses. When used for anything else, you pay taxes, and a BIG penalty.This money must be used for medical, dental and vision care, but not dental and vision payments, do not expect that to your deductible.

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