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Hsa Insurance Question & Answers

2015 August 20
by Sarah Fields

Jenny asks…

Whats the difference between HSA and HIA health care plans?

I am looking at buying health insurance and I don’t know which one would be better. I am soon to be 25 and a non-smoker with no health issues.

Sarah Fields answers:

An HSA is a health savings account. An HSA is a tax advantaged way to purchase high deductible health insurance.

HIA, on the other hand, appears to be a health insurance agent.

Lizzie asks…

What is the best company to get health insurance from?

Everyone likes their health insurance so much there must be plenty of good companies out there. I’m looking for an option besides the government option. I’ll even try your insurance company if you are really happy with them. Please provide me with the name of the company and what you like about their service.

I would like to compare several policies (I assume they are all different) before I decide.

Also, if anyone could point out the differences in policies between different insurers that would be very helpful. Thanks.

Sarah Fields answers:

Get an insurance broker. They’ll do all of the leg work for you and provide you w/ the best options based upon your needs and budget.

It’s worth it…too many people think they’re covered and find out they’re not w/ the policy they picked.

I have Blue Shield Active Start 35 — it’s a catastrophic plan but works well. It mitigates my risk to a maximum of $7500/yr — something I can probably handle if I hit that threshold.

Many people are also adopting HSA’s (Health Savings Accounts) in conjunction w/ their PPO’s/HMO’s. Doing so allows you tax-free access to money that is pulled from your pay-check on a monthly basis to pay for any deductibles/bills you may encounter w/in the year. At the end of the year, you can spend that money on health related items tax-free. Go to a Rite Aid or CVS pharmacy and load up. The Broker will help you maximize the benefit of that as well — in conjunction w/ the insurance policy. Be smart.

I received a few services from the hospital many months back and had no problem w/ billing/claims. They even picked up the phone when I called to ask about a separate bill that showed up a week after I paid the rest.

In addition, I was charged in-full for an MRI b/c I didn’t get authorization beforehand. After a brief 2 minute conversation w/ customer service, they apologized for the inconvenience, reissued the bill as if they had pre-approved it, reminded me to get approval next time and sent me my bill for the deductible.

Donna asks…

How much would it Cost to fix a Broken Leg without Insurance?

Dont have Health insurance or a Broken leg.. But if by some chance it did happen, how much would it cost to fix it?

Also what about getting stitches…… Im a pretty active college student and with health care cost the way they are its just too much to handle. But i dont want to give up staying active because of it.. Anyway, thanks in advance for any help!

Sarah Fields answers:

Check with your college/university if they offer student health insurance–usually it’s not too expensive.
Also if you’re under 23 and full-time, you MIGHT be able to be covered under your parents’ policy.
Does your college/university have a student health center? If so, charges should be lower even without insurance.

No one can quote an accurate price on what it costs to fix a “broken” leg–too many variations possible. You NEED some kind of insurance. Period.

If you’re young and healthy, check into an HSA–a high deductible plan and savings that go into a savings account when your luck runs out–is a very sensible option for you. Ask an independent agent or use ehealthinsurance.com. It makes NO sense to have NO insurance because IF you need it, you will NOT be able to obtain it at any price.

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