Ohio Health Savings Accounts (HSAs) are one of the most popular policy options that will reduce your health insurance rates in 2012. We can help you compare the top HSA plans that are available to individuals, families and any Ohioan who is self-employed. Preventive benefits are always provided with no deductible, coinsurance or waiting period. And “Network repricing” can substantially reduce your out-of-pocket costs on items that are subject to a deductible.
In 2012, the minimum allowed deductible is $1,200 (individual) and $2,400 (family). The highest allowed contribution is $3,100 for an individual and $6,250 for a family. Of course, you can always make lower contributions into your account or simply make no deposits at all. There are cost-of living adjustments and also a special “catch-up” contribution of $1,000 provided if you have reached age 55.
What Our Website Does
This website specializes in providing Ohio Health Savings Account rates and coverage information. We allow you to easily view and compare all of the plans from the top carriers. But more importantly, with 30 years of experience, we’ll research all of your options and present you with the choices that are best for you. We’re local experts on these types of policies, located here in Ohio, and we closely research any changes or trends that may affect you.
A Health Savings Account is a combination of a high-deductible insurance policy with a tax-favored savings plan. Deposits into the savings portion can be accumulated and used to pay the deductible (when needed) and other qualified medical, dental and vision expenses. Contributions are tax-deductible and withdraws for qualified expenses are not subject to taxes. All money that accumulates in the account can be withdrawn at any time, and unused funds at the end of the year will not be lost. For example, unused contributions in 2012 can be used for 2013.
Not everyone needs an HSA, and rates will vary greatly, depending on which part of the state you reside. But, typically, the most competitive policies are offered by Medical Mutual, UnitedHealthOne and Anthem Blue Cross. Humana, Aetna, Celtic and Assurant are reputable companies, but generally feature higher rates. Our free comparisons will help you find the best choice, including the most cost-effective deductible and coinsurance combination.
Medical Mutual and Aetna have an “embedded deductible,” which is a deductible on each person (usually capped at two). UnitedHealthCare and Anthem have an “aggregate deductible, which is a large family deductible that must be met before most benefits are paid. Each type of deductible has its own merits and we review the differences, and what effect they will have on your specific situation. Once you reach age 65, you can still utilize your accumulated money for long-term care, Medicare Part B premiums and other medical expenses.
For additional information on the 2012 Ohio HSA plans, please call us at (888) 513 6446. Or, to get started before you call, and view your options, use the “Get Instant Quote” button at the top of the page. We’ll be happy to help review your options.