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What Is A High Deductible Health Plan And How Can It Help Me?
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Manage episode 296598781 series 2859084
#028 - What Is A High Deductible Health Plan And How Can It Help Me? explains what kind of health insurance plan you can have so you can open and fund a Health Savings Account. Scott explains the basics so that you can get 100% covered and spend the least amount of money possible.
High Deductible Health Plan Requirements
In order to open and fund a Health Savings Account, the Internal Revenue Service requires that a the insured be enrolled in an eligible High Deductible Health Plan. The requirements are straight-forward.
Learn more in IRS Publication 969 linked here
*To be an eligible High Deductible Health Plan, the plan must:
- Have an Individual Deductible no lower than $1,400 ($2,800 for spouse, dependent, family)
- Have an annual Individual Out Of Pocket Maximum no higher than $7,000 ($14,000 for spouse, dependent, family
- Deductible must come first - NO COPAYMENT
*Limits apply to 2021 tax year
HSA Rules for 2021
Disconnect between HDHP and HSAs - More Education Needed
The Journal of the American Medical Association commissioned a study on Health Savings Accounts that concluded few US adults enrolled in High Deductible Health Plans are using HSAs to save for health care. As a result, more education is needed to make HDHPs and HSAs more valuable and effective.
See the JAMA study here
We're on a mission to get you 100% covered and spend the least amount possible. Please subscribe and tell your family, friends, co-workers, boss, office manager, HR director or firm administrator to listen to Doxcost on Apple Podcasts or wherever you get your shows.
Next up, we'll talk about affordability - how to structure your HDHP/HSA to get started.
I appreciate you very much! See ya next time.....
Clarence Davis, #28 Oakland Raiders - Sea Of Hands - watch here
Like the music on Doxcost? Listen to my pal, Morgan Fingleton, here
36 Episoden
Fetch error
Hmmm there seems to be a problem fetching this series right now. Last successful fetch was on April 13, 2024 10:59 ()
What now? This series will be checked again in the next hour. If you believe it should be working, please verify the publisher's feed link below is valid and includes actual episode links. You can contact support to request the feed be immediately fetched.
Manage episode 296598781 series 2859084
#028 - What Is A High Deductible Health Plan And How Can It Help Me? explains what kind of health insurance plan you can have so you can open and fund a Health Savings Account. Scott explains the basics so that you can get 100% covered and spend the least amount of money possible.
High Deductible Health Plan Requirements
In order to open and fund a Health Savings Account, the Internal Revenue Service requires that a the insured be enrolled in an eligible High Deductible Health Plan. The requirements are straight-forward.
Learn more in IRS Publication 969 linked here
*To be an eligible High Deductible Health Plan, the plan must:
- Have an Individual Deductible no lower than $1,400 ($2,800 for spouse, dependent, family)
- Have an annual Individual Out Of Pocket Maximum no higher than $7,000 ($14,000 for spouse, dependent, family
- Deductible must come first - NO COPAYMENT
*Limits apply to 2021 tax year
HSA Rules for 2021
Disconnect between HDHP and HSAs - More Education Needed
The Journal of the American Medical Association commissioned a study on Health Savings Accounts that concluded few US adults enrolled in High Deductible Health Plans are using HSAs to save for health care. As a result, more education is needed to make HDHPs and HSAs more valuable and effective.
See the JAMA study here
We're on a mission to get you 100% covered and spend the least amount possible. Please subscribe and tell your family, friends, co-workers, boss, office manager, HR director or firm administrator to listen to Doxcost on Apple Podcasts or wherever you get your shows.
Next up, we'll talk about affordability - how to structure your HDHP/HSA to get started.
I appreciate you very much! See ya next time.....
Clarence Davis, #28 Oakland Raiders - Sea Of Hands - watch here
Like the music on Doxcost? Listen to my pal, Morgan Fingleton, here
36 Episoden
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