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TYPES OF HEALTH PLANS

 

 

• Health Savings Accounts (HSA)
  
  Health Savings Accounts (HSA) provide consumers with added insurance coverage and control. Flexibility is the key component of an HSA. Anyone with a high-deductible health plan can set up a health savings account to save money on medical care now, as well as save for future medical expenses. You may use HSA funds to pay for expenses that must be met before your deductible, to pay for services not covered by your health plan (such as alternative therapies or out-of-network providers), or insurance coverage during periods of unemployment.
  
  Added Convenience to Health Care with HSAs
  
  Even if you purchase your insurance plan or your health savings account through your employer, you still own your account. You make the decisions on how much to contribute to your account and which medical expenses you will use the funds to pay. When you change jobs or move, the account remains intact. Any unspent balances remain in your account earning interest until you spend them on medical care.
  
  An HSA can be a comforting safety net if you have a high deductible plan (remember, your plan won't begin paying out until your financial responsibility is met). In the event that you lose a job, must seek uncovered medical services or just want to exercise your right to seek a specialist not contracted with your insurance plan, the funds in an HSA may one day be your saving grace. If you are a consumer who desires security and values freedom, an HSA is an option you should research.