HSP Health Savings Plan

I just signed up for a health savings plan and I have health insurance through HealthNet. I have loved it so far! I put $100 a month into the HSA so that it is there for anything I need medically. (So far I have paid for my contact lenses for the year and 2 co-pays.)I also like that any money in there is making interest for me. Hope it helps!

Hi M.,

I have Blue Cross/Blue Shield.They have many different plans to choose from. Please feel free to call my associate who can quickly and easily explain some health insurance options to you. His contact information is:
Robert Nelson
(800) 776-0823 you can tell him Michelle referred you. He's great and can really help you through.
Good Luck and Take care!

Michelle

Get in touch with my agent, Danny Goldman at ____@____.com
Phone # 949/751-3454

He will know what insurance is best for any situation. Good Luck!

M. - HSAs can be a great way to sock away money for long term medical needs, and the lower premiums are nice, but it is really important to assess your situation and make sure you can manage the high deductible. All your expenses (except for a few preventive services) will be applied to your deductible...you are getting the benefit of in-network rates if you use network providers, but you have to pay it all yourself until you meet your deductible. That includes prescriptions, which most people are not used to paying for out of pocket - it is amazing how much some medications cost. Make sure you read the policy carefully, so you know exactly how much the deductible is and how it is works for both in and out of network providers, multiple family members, etc.

Best of luck,

L.

We have just changed over to this! Ours is with BC HSA. It sounds like a good deal!! It seems to make the most financial sense to me! But I've yet to use it.

I have had experience with a health/medical savings plan. I feel that, unless you have the money to shell out for each doctor's appointment, it is not worht it. If you don't use a doctor's service often, then it may be the thing for you. For me it did not work. I live paycheck to paycheck and to have to pay the $100+ for each appointment (not including the cost of medicine if you're ill) you are in the same position as if you don't have any insurance at all. Hope this helps.

We have had a Health Savings Account (HSA) over five years. It must be combined with a high-deductible health insurance policy. Ours is with Blue Cross and we love it. You are allowed to put the equivalent of your deductible into your HSA each year "before tax". You pay for your medical expenses directly from the account and if you don't reach your deductible in a year...the extra funds will accumulate in the account. You can also pay for medical-related expenses that are not covered by your Health policy like dentists and chiropractors. Our HSA is at Santa Lucia National Bank. They offer the highest interest rate in the San Luis Obispo area and offer a debit card and free on-line banking. Hope this helps.

Hi M.,
I think they can be very useful for someone that is generally healthy, and can put away the funds in the HSA on a regular basis until there are sufficient funds to atleast cover the deductible. Also if the funds are not needed for health issues, they may be used for retirement purposes at the appropriate age. 59 1/2 etc.

Call me if you need more information ###-###-####. D.
I am a rep in the South Bay area and we can look into it for you. take care.

M.,
I am a health insurance agent and I think H.S.A. compatible plans are a great idea- but you need to make sure you are doing what's right for your family. I typically refer my clients to my favorite company that does that www.sterlinghsa.com. I think they are really helpful and informative. I have my whole family with a high deductible medical plan and a health savings account because I really believe in the concept. I just want to encourage you to be sure to do the math (how much will the premiums be for your family annually + the potentialy tax deduction + how much do you think your family uses your plan). Good luck!

The best idea is to talk with your Blue Cross rep and find out what options you have. I have heard that HSP's are great and tax free. It's worth a 15 min phone call.

Good Day: M. I am an insurance agent appointed with all the carriers. I myself have an HSA. I would love to email you information regarding this to have a better understanding and allow me to assist you. I am here assist you. ____@____.com ###-###-####
I also have a list of Banks who provide this service. Some do have charges, which eat up the interest. But I know of two that do not..Please email me or call I can run a quote . This is a great way to go. Write offs...and you don't have to use the money just let it roll over.
###-###-#### ____@____.com or I can call you. I work all over State of Calif. Its easy but remember there are medical questions on application.

I don't think this is a reflection on HSA/FSA's in general, but whatever company you decide to go with, DO NOT use Conexis as your administrator - they are absolutely horrendous...My husband worked in a small office that had an HSA instead of traditional medical insurance, and everyone in that office ended up cursing their name. I can't even believe they are still in business...good luck!

M., Would love to hear about the responses you get. I am basically in the same boat..just an older boat...S.