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Better Health Insurance Without The Sticker Shock

health insuranceNovember’s not just the month that the holiday season begins. It’s also the last chance to use one of the biggest legal loopholes that can make your health care less expensive. Yes, the cost of health care is going up, but you can offset that increase with a reduction in your taxes.

Do you have insurance with a deductible? If your deductible plan does not let you start a Health Savings Account (HSA), you’re probably losing money. Switch to an HSA-qualified plan before December, and you have until April 15 next year to deposit money in your HSA that you can deduct from your taxable income.

Here’s a tip. If you have already met or are close to meeting your health insurance plan deductible, why not schedule all your doctor visits and any necessary medical procedures right in the same calendar year. If you wait until next year, you’ll have to meet the annual deductible again and pay for a larger share of the cost.

The good news is that just about everything you pay for while you’re meeting the deductible can be turned into a tax deduction. That can mean lower federal taxes. And, virtually all states let you claim a tax deduction to reduce your state taxes, as well.

Along with the tax deductions, HSA-qualified health insurance comes in at the low end of the premium range. Just remember that many plans with deductibles are not eligible to be combined with a health savings account. We clearly identify all of the HSA-qualified plans every time you run our instant quotes.

When it comes to medical care, there are three more ways to avoid sticker shock. If you want to keep your out-of-pocket expenses down, go with in-network doctors and hospitals. Besides paying attention to your plan’s list of providers, watch out for big price differences even within the network.

You may save hundreds of dollars if you can use a convenience-care or urgent-care clinic for common issues like the flu or a sprained ankle instead of going to the ER. That’s the most expensive kind of treatment. Don’t be shy about comparing prices. It’s just one way to save money without compromising quality in health care.

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eTNHealthinsurance
111 South Highland St. #117
Memphis, TN 38111
Phone: (877) 224-2052
www.eTNHealthInsurance.com
info@eTNHealthInsurance.com

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