Get the best HSA rates in Ohio and save money on your health insurance premiums. We help you choose the lowest available prices for Health Savings Accounts from the most recognized and respected companies in the Buckeye state. Along with lower costs, you’ll be able to tax-deduct qualified deposits and allow unused money to accumulate without risk of loss.
A Health Savings Account is a tax-favored savings contract that is combined with a high-deductible health insurance plan. HSAs pay for existing medical expenses and save money for future qualified expenses without any tax liability (assuming no early withdraws of previously tax-deducted money). Since the late 1990s, they have become very popular with consumers that typically don’t incur a lot of medical expenses but still want to maintain quality benefits.
They also will continue to be available when Ohio Health Exchange plans are offered through Open Enrollment (View prices on our website). Although there will be a few changes, (such as the mandatory inclusion of maternity and other benefits) a portion of your premium may be eligible to be paid by the federal government. The lower your income, the more likely you are to qualify.
The first step is establishing a high-deductible health insurance plan (HDHP). These plans are available through most Ohio health insurance companies, including UnitedHealthCare, Aetna, Anthem Blue Cross and Medical Mutual. The HDHP is an inexpensive catastrophic health insurance plan that generally does not pay for the first few thousand dollars of health care (the “deductible.”). However, after the deductible, expenses are covered at 80% or 100%, depending on the plan. We recommend the 100% option, even though it is a bit more expensive.
You have complete control over the deposits in your policy. You also decide the types of investments and how much risk to take (if any) to make with the money in the account in order to make it grow. Some of the funds in your HSA can come from the money you save on your insurance, since an HDHP usually costs less than a regular medical policy. We recommend the safest option which is a fixed-interest account. While it’s true your rate of return will be lower, it will be substantially safer.
Once the HDHP is in place, the HSA can be set up through banks, credit unions and other institutions. There are many very good Ohio Health Insurance Accounts. For specific details on rates and coverage, please request a free quote at the top of the page.
Oh…by the way…I have an HSA. And I have been very happy with its performance.Tags: HSA rates in Ohio, ohio health savings accounts, ohio hsa plans Posted by