HSA’s and Maternity Coverage

I’m pregnant, and I own an HSA Health Savings Account plan.  What do I do? First, congratulations on your baby!  Planning financially is the one item that most think about first. Employer Group HSA plans:  if you are on a employer HSA plan, maternity is most likely covered and subject to the deductible. Be sure you stay in network, and open up a HSA bank account at some institution immediately.  Only expenses after you set up the HSA account are eligible for a tax deduction.  You will probably hit your deductible, and the entire amount may be tax deductible depending on the deductible...

read more

Low balance in your HSA? Need to see a doctor?

Everyone needs health care at some point in time, but not everyone has prepared accordingly, or in a financial position to take care of surprise expenses. This often occurs with people who own Health Savings Accounts.  The good news is that if you understand the tools you have access to with your HSA plan, you can recover quickly if you are HSA educated! Here is the game plan if you find yourself in this predicament: First, take care of your health.  Go to the doctor, stay in network, and you’ll get the network discounted price. Have the doctor send a claim to the insurance company, it...

read more

Why an HSA health plan is better than a Copay plan

Why is a Health Savings Account health insurance plan better than a copay plan? An HSA is a better plan if you’re focused on your out of pocket maximum. If so, an HSA cannot be beat. The reason is because you have a defined out of pocket maximum. With your typical PPO Copay plan, you’ll have a deductible, 80/20 coinsurance, plus doctor copays, Rx deductible and Rx copays. But, COPAYS are sometimes forever. Let’s imagine a broken back, surgery, pain meds and 3 X a week physical therapy for 6 months. Copays will rack up over $400/mo or more, they rarely go towards the...

read more

Prescription Savings

Prescriptions and Rx is another example where transparent pricing has enabled the consumer to drive down prices, and demand higher quality. There are many online companies that provide that lower price / higher quality, and can be found on the Pharmacy discounts page below. Health Savings Accounts have been a major force in the growth of this sector. Online vendors are able to write prescriptions orders for most drugs over the phone or internet.  By having this capability, it eliminates waste, including the cost of seeing a doctor to write the script. This is always a top complaint of...

read more