If I told you that a third of consumers admit that their knowledge of health insurance is lacking, would you be surprised? As insurance and health care becomes more and more complicated, with High Deductible Plans, Health Savings Accounts, Point of Service Plans, Preferred Provider Organizations Plans, copays, coinsurance, deductibles, premiums, etc., it’s no wonder people can’t keep up.Continue reading “The Importance of Total Consumer Health”
If you’ve done any research about retirement planning, you know that it’s NEVER too early to start. In fact, starting to save during your college years is slowly becoming the norm! But what do you do when years turn into decades and you still haven’t started saving for your retirement? If you are in your 50’s and haven’t been able to build up the retirement fund, you’ll need to get started and fast. Here are some tips to help you out! Continue reading “Retirement Planning – I’m 50 and haven’t started yet!”
High Deductible Health Plans have become very popular over the past few years as insurance premiums have continued to rise. High deductible plans allow you to use an H.S.A. or Health Savings Account to manage your upfront expenses. Each year, the IRS sets the contribution limit for funds that you are allowed to put into your H.S.A. bank account. If you don’t pay attention to the contribution limits each year, you put yourself at risk of paying extra taxes to the IRS – let’s be honest, no one wants to do that! Continue reading “H.S.A Contribution limits and what you need to know”
It’s certain that the next few years will see some significant changes in the American health insurance system. With price fluctuations and carriers coming in and out of the market, it’s been difficult for families to budget. Currently, there is one program that will help you reduce monthly fees and get a tax break: Health Savings Account (HSA). Here’s what you need to know about HSAs, and how they’re changing in 2017. Continue reading “Health Savings Accounts in 2017 — Your Questions Answered”
The trend toward employers offering high-deductible health plans (HDHP) — and no other option — seems here to stay, like it or not. HDHP coverage is growing at a 15% pace, annually. In 2005, such plans covered 1 million people. Now, they cover more than 15 million, including 10% of those in Connecticut who are under 65 and have private insurance.
Some consumers fear a HDHP because they worry about being on the hook for that deductible, should they need significant medical care. The silver lining, though, is the ability to pair an HDHP with a tax-advantaged Health Savings Account (HSA).