Would a High Deductible Health Plan & Health Savings Account (HSA) make sense if we are trying to have a baby?
Evangeline asked:
I am on individual insurance that lacks maternity coverage. Our monthly premium is really expensive so we are considering switching to a High Deductible Health Plan (HDHP) and using an HSA to pay medical bills. Maternity riders are really expensive so we are hoping that the money we save in the HSA will be enough to cover the maternity hospital bill. Anyone have any feedback on this?
Domingo Hammans
I am on individual insurance that lacks maternity coverage. Our monthly premium is really expensive so we are considering switching to a High Deductible Health Plan (HDHP) and using an HSA to pay medical bills. Maternity riders are really expensive so we are hoping that the money we save in the HSA will be enough to cover the maternity hospital bill. Anyone have any feedback on this?
Domingo Hammans
High deductible health insurance plans (HDHP) are a great way to save money on monthly premiums especially when coupled with an HSA.
The money save you on your monthly premiums is only one of the ways to save money because also don’t forget about the tax savings that you can get with an HSA. You can get an above the line deduction for all money that you put into the plan (regardless of your AGI and up to certain IRS limits), the money grows tax free, and the money can be distributed tax free as long as the money is used to pay for qualified medical expenses (certainly most expenses associated with pregnancy should be).
Here is some more information on HSA’s:
making use of the SE such as google or yahoo to generate some ideas first if you would like to get the massive information,nonetheless if you would not want to put so much time,here is a direct and useful resource for your questions.
Are you in Ca, ? And you said you are trying to have a baby what do you mean? Are you pregnant already ? call me I’ll explain it to you on monday .. 805-492-3112 Only if you live in Ca, ..
Thanks ,,
Sincerely sam