California Health Insurance Quotes and Blog

Local California health insurance agent offers guidance and service in selecting an HSA policy.  Can a health savings account meet your family’s insurance and healthcare needs?

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Matt’s Health Insurance Services, a licensed independent Blue Cross / Blue Shield of California Authorized Agent, offers a rapid online quote service for California health insurance consumers seeking information on Health Savings Accounts (HSAs) and the lowered rates and more attractive policies offered by this type of plan.

Insurance consumers—particularly the self-employed—are interested in the lower costs and increased efficiency of HSAs.  These federally-mandated investment vehicles enable consumers to save and earn tax-free dollars that can prevent them from the ill effects of catastrophic medical problems.  Additionally, the freedom of these self-directed plans frees California insurance consumers from restrictive policies and “preferred” networks of many major insurance providers.    It’s estimated that the number of families using HSAs for their medical needs in 2010 will be 3500 % of 2004 levels.  Yes, that number is correct:  14 million consumers are headed toward HSA coverage by 2010.  Those numbers paint a clear picture:  HSAs fulfill a need felt by many consumers on the American insurance landscape.

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Economically, health savings accounts allow for tax-free medical savings.  Additionally, earnings on HSAs are tax-free, whether they’re invested in stable money market accounts or risky stock and real estate ventures.  And owners of HSA policies are free to visit whichever doctors, specialists, and hospitals they prefer—and to choose to undergo whichever procedures they see as necessary to their continued health.

For more information, consumers can visit the health savings account section of Matt’s Health Insurance Services online at http://www.mattsinsurance4ca.com.  A five-minute online form provides all the information necessary for you to receive a rapid response from a licensed professional California insurance provider.

For more information, visit http://www.mattsinsurance4ca.com

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Health Savings Accounts (HSAs) enable consumers to make wise financial decisions without taking a hit to the quality or efficiency of their medical care.  How can you use this program to ensure your family’s medical and financial security?

It’s not just California insurance customers—all insurance consumers are constantly seeking ways to lower their insurance costs.  The rub is this:  with lower premiums come higher out-of-pocket deductibles and co-pays.  Many California insurance consumers opt to stick it out with higher premiums, choosing convenience over financial wisdom.

One of the positive developments of the past decade has been a vehicle designed to assist Americans in their quest for medical self-management and lower insurance prices. Health Savings Accounts (HSAs) are a relatively new development in the California health insurance market, allowing consumers to accumulate tax-free savings toward the resolution of future medical problems.  These plans link a cheaper -  low monthly premium, high-deductible insurance plan to a tax-free health savings account, which is directed by the account owner, rather than an insurance bureaucrat in an office miles away.  Over three million Americans are already taking advantage of these new HSA insurance plans, happy with a choice that finally offers financial wisdom and convenience.

Each year, holders of HSAs Health Insurance plans can contribute $2900 for individuals or $5800 into a special Health Savings Account you can set up at your bank.  These contributions are completely tax-free, as are the earnings they produce.  And as long as any withdrawals are used for documented, legitimate medical expenses, they are tax-free as well.  That fact remains true even if the withdrawals are used for alternative or preventive measures that most standard health insurance policies don’t cover. 

And HSAs are employer-independent, following the policyholder from job to job and from the workforce into retirement, completely eliminating the hassle and nervousness of suffering through “probationary periods” every time a career change necessitates a difference insurance policy.

The cost of health insurance is can be high and California health insurance is no exception. Everybody needs to have a good health plan with a reputable carrier. Yes, I do understand the concern about the high cost of health insurances. It’s necessary to have health insurance and at the same time you should make your plan choice sensibly so that you don’t pay too much for unnecessary coverage. Here are few tips which will help you in reducing the amount of your health insurance premium. Think about the last three or four years and how many times you have visited a doctor. If you haven’t gone to the doctor much and you have a plan with a co-pay, you may not need that particular plan. Having a co-pay included in your health plan cost more money than a plan that has either a limited number of visits with a co-pay or no co-pay at all. Most of us generally enjoy good health except for few times a year when we suffer from some minor health issues. If you’re fairly healthy, you can go for a high deductible health plan and save money. I too followed this advice. Now I am saving a considerable amount on the health insurance premium. I was paying for unnecessary benefits earlier. You can get quotes from more than two or three health insurance companies and judge for yourself based on the quote and the coverage that you get. Many of us are generally healthy, we can avoid inclusion of all the coverage but only opt to go with catastrophic coverage which might be required if you have a big claim. Other benefits like physician’s visit, prescription, etc. can be avoided as these extras raise the premium further. Sometimes group health insurance can be more expensive than if you have an individual family plan. Contrary to popular belief that employers offering health insurance must go with a group policy, they don’t. Group policies are guarantee issue for any eligible employee who wants it. That means that no matter how sick or how many claims are filed, everybody gets accepted. With more claims being filed with group insurance, the insurance carrier must charge higher premiums. Individual plans on the other hand are fully underwritten. The insurance company will only accept healthy people onto the plan. There for less claims and lower premiums. These are just few things which would help us in reducing the health insurance premium. But there might be several of other similar points which when used intelligently would reduce the amount you pay. These are not theories or rules but just things which we learn out of experience. You too can share if you have any useful tip so that others can benefit. Why should we unnecessarily pay the insurance companies when we can we can prudently save on the premium and at the same time enjoy the needed health coverage.