Today I’m guest posting at Vosa.com about on of my favorite topics, health savings accounts!
Health care has been in the news quite a bit over the past year. With all the big changes happening with the Affordable Care Act in the US, you’d have to be hiding under a rock not to know that almost everyone is now required to have some sort of insurance coverage. For many, the costs have risen dramatically. What if I told you there was a way to save thousands, possibly hundreds of thousands of dollars, on health care over the next 25 years? With a fully funded health savings account, that’s a definite possibility.
What is An HSA Account and How Do I Get One?
A health savings account or HSA is an account you set up to cover deductibles and medical expenses in conjunction with a high deductible health plan. In order to have an HSA you only need to meet the following criteria.
-Enroll in a qualified high deductible health plan. Minimum deductible amounts for 2014 are $1250 for singles and $2500 for families. Just because your plan has a high deductible doesn’t mean it is HSA compliant. Check with your insurance company if you aren’t sure. You also can’t be on Medicare or covered on another insurance policy.
Read more about my favorite topic at Vosa.com