Why We Recommend a Health Saving Plan (HSA) for Insurance

What type of insurance do you have?

Any form of insurance is there for “just in case.” Car accident, burglary, disability, death, flood and sickness to name a few.

When it comes to health insurance, what plan are you on? Are you paying a ton, yet get none of the benefits?

Our family chose a HSA (health saving account) years ago. Why?

  1. We don’t go to doctors unless it’s an emergency.
  2. The doctors we DO go to are chiropractors and other natural doctors. We pay cash.
  3. We don’t take pharmaceuticals. Why pay for drug coverage?
  4. We have a deductible of 10K. The money we have saved over the years on premiums is way MORE than the 10K. In the case of catastrophe, I have the 10K saved up in my HSA.
  5. HSA contributions are up to $6900 for the family in 2018. You can put in all of it or none of it or in between. Tax deductible contribution.
  6. Direct the funds where YOU want them to go and the doctors YOU want to see.

Services covered in a HSA according to the IRS.

  • Chiropractor services.
  • Dental services.
  • Diagnostic devices.
  • Surgical expenses.
  • Fertility treatments.
  • Hearing aids.
  • Home care costs.
  • Laboratory tests.
  • Long-term care costs.
  • Prescription medications.
  • Nursing services.
  • Psychiatric care.
  • Eye exams, glasses, and contact lenses.
  • Medical devices such as crutches.

More investment info for HSA here.

Different states have different rules and plans. Check with an insurer in your state for options.

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