How an HDHP Works – HSA Advantages – Humana
What is contained below is Humana’s summary of how HDHPs and HSAs operate. This is not the wording of HDHPexpert.com and is provided for reference purposes. Source.
A High Deductible Health Plan gives you solid healthcare coverage and greater control over healthcare spending:
No copayments - When you have medical and prescription costs, they apply to your deductible.
Preventive services coverage - Many preventive services are covered 100 percent before you meet the deductible.
Specified out-of-pocket maximum - The plan has a built-in cap on annual healthcare expenses; your deductible applies to the maximum.
Opportunity to open a Health Savings Account (HSA) - Save tax-free money to pay deductible or coinsurance; you, your employer, or both can contribute to an HSA.
Lower premiums - High Deductible Health Plans usually have lower premiums than other kinds of health plans.
Source: http://www.humana.com/members/plans/group/hdhp.asp
HSA Advantages
Opportunity to build savings - Unused money stays in your account from year to year and earns tax-free interest. The HSA also gives you an investment opportunity.
Tax-free contributions and earnings - You don’t pay taxes on contributions or earnings.
Portability - The funds belong to you, so you keep the funds if you change jobs or retire.
MSNBC Video: Fewer Americans Able to Save (Hint: Save in an HSA)
For those who do save but want to save more, why not do so pre-tax in a Health Savings Account? (what is a health savings account?)
April 21: The American Institute of Certified Public Accountants report that just over half of Americans were unable to save money last year. NBC’s Tracie Potts reports.
Visit msnbc.com for breaking news, world news, and news about the economy
Source: MSNBC
HR 4872 Full Text – Printable / Downloadable PDF – Health Care and Education Affordability Reconciliation Act of 2010
HR 4872 Full Text
VERSION APPROVED BY THE HOUSE ON MARCH 21, 2010. “ENGROSSED IN THE HOUSE”
This is the text of the bill as it was approved by the House, although some bills may be changed further either by the Senate or through a conference committee. This is the latest version of the bill currently available on GovTrack.
