| Health Savings Accounts offer tax
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| | your HSA and continue to raise your
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| deductions for medical expenses, and the
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| | deductible, if you choose.
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| opportunity to set up an additional
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| | 3. Stay healthy, so you can switch plans.
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| retirement account. But regardless of any
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| | All health insurance plans have rate
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| other positive benefit of HSAs, lower
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| | increases, and weve even seen premiums
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| premiums are the primary reason that
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| | jump on some HSA plans. If a rate
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| thousands of Americans have chosen Health
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| | increase happens to you, you can switch
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| Savings Accounts as the best way to
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| | to a different insurance company but
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| protect their family's health and assets.
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| | only if you pass their underwriting
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| Here are some key suggestions on how to
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| | requirements. If chronic disease
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| keep your health insurance premiums low.
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| | develops, you may be stuck with your
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| 1. Choose an HSA-qualified plan for lower
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| | current plan, and its accompanying rate
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| rate increases.
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| | increases, for eternity. Or at least it
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| Average group health insurance premiums
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| | may seem that long
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| rose by 9.6% last year and rose over 10%
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| | If you pay attention to the
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| for each of the previous six years.
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| | pharmaceutical commercials, you learn
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| Individual plans went up even more. Yet
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| | lifestyle really has nothing to do with
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| it is expected most HSA plans will
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| | disease, and it is natural and healthy to
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| experience much lower rate increases. A
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| | be on many medications for the rest of
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| very large study was recently published
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| | your life, which will then solve your
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| showing that rate increases over the past
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| | health problems.
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| year for consumer-driven plans such as
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| | If you pay attention to the science, you
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| HSA plans was only 3.4%. Blue Cross of
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| | know the truth is quite different. It
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| Minnesota has reported that its HSA
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| | appears lifestyle is probably 95% of the
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| customers spent 8% less than their
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| | picture, and we know the occurrence of
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| traditional insurance clients. Humana has
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| | degenerative disease can be dramatically
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| reported claims' costs of 4.9% for
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| | reduced and even prevented.
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| consumer-driven plans, versus a 19.2%
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| | Fortunately, most HSA owners are
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| increase in claims for other plans. In
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| | interested in health, wellness, and
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| fact, average HSA premiums for
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| | disease prevention. After all, theyre
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| individuals have actually dropped 19.5%
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| | paying for their own doctor visits if
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| over the last two years.
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| | they do get sick. HSA owners are also
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| The reason these plans have lower rate
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| | "forward thinking" people, and like to
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| increases is that people who have
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| | plan for their future both financial and
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| HSA-qualifying high-deductible health
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| | physical. You can improve your odds of
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| plans are likely to pay closer attention
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| | excellent health with just a few key
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| to costs, and take better care of their
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| | habits:
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| health. For instance, an HSA owner
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| | - Eat very high quantities of fresh
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| offered a statin drug to lower her
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| | vegetables and fruits. Shoot for 35% of
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| cholesterol may be more likely to request
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| | your calories. This will lower your risk
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| a generic version, or ask her doctor if
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| | for diabetes, high blood pressure, heart
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| inexpensive nutritional supplements such
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| | disease, cancer, and much more.
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| as niacin or fish oil may be a solution.
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| | - Limit your intake of sugar and starchy
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| These actions save the insurance company
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| | carbohydrates like bread and pasta. The
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| money and should result in lower rate
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| | majority of health problems in the U.S.
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| increases.
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| | are related to metabolic diseases that
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| 2. Raise your deductible as your HSA
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| | involve insulin resistance.
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| account grows.
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| | - Exercise and lift weights. Exercise
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| When you fund your account you build up a
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| | guru Jack La Lanne turns 93 on September
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| financial "cushion" which allows you to
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| | 26, and he says if you have muscles you
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| raise your deductible as your account
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| | never feel old.
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| grows. Every time you raise your
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| | 4. Compare your plan to other available
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| deductible, your premium should go down.
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| | plans at least once a year, or whenever
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| By the way, don't forget that every time
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| | you get a rate increase.
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| you fund your account you get an instant
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| | Often-times people keep their plan much
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| tax-deduction. When you offset the tax
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| | longer than they should, and end up
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| savings against your premiums, you'll
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| | paying too much. If your rates go up, you
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| find your net cost for an HSA plan can be
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| | should compare a wide variety of plans to
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| very low.
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| | determine if you are in the right plan
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| The maximum allowable contribution goes
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| | for your needs and budget.
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| up every year with the rise of the
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| | By using these four strategies, the
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| Consumer Price Index. Currently, the
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| | typical family can save thousands of
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| individual contribution limit is $2,700,
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| | dollars in health insurance premiums and
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| and the family limit is $5,450. So each
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| | still protect themselves against
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| year you can deposit greater amounts into
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| | unexpected major medical expenses.
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