HealthSavingsAccount-HSA.com
a comprehensive resource of information on health savings accounts
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What do you think of HSAs? Send your comments & questions
This Web site is sponsored by: short term and low cost health insurance including HSA-qualified plans
access to PHCS network discount prices to supplement your HSA
allowable supplemental insurance for HSA plans
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Quotes For Health Savings Account Qualified Insurance(Paid adviser support vs. free online quoting services) by Tony Novak, MBA, MT
Shopping for health insurance used to be easy. Insurance companies published rate sheets that applied across the board and insurance agents freely quoted rates in return for a portion of the premium that was paid as a commission. Many health insurance companies halted the practice of paying agent commissions and insurance underwriters require more information before offering a premium price. Many insurance agents and benefits advisers prefer to not handle this type of health coverage because of lack of compensation, the high number of applications with underwriting problems and the additional service requests brought on by the health savings account. Many firms that accept quote requests online, especially managed care and Blue Cross Web sites, collect your information online, but pass the lead on to an agent or sales representative for manual contact at a later time. This combination or circumstances makes it harder for consumers to compare coverage based on price. Meanwhile, public interest in low cost high deductible health insurance that can be paired with a health savings account is growing. As interest grows, more consumers report that they have difficulty finding prices and anyone to help answer questions about these health plans. OnlineAdviser offers two options for pricing Health Savings Account qualified insurance: 1) pre-paid OnlineAdviser personal service, and 2) free online rate tables. This article summarizes the advantages and disadvantages of each method.
Pre-paid OnlineAdviser Service
Free Online Rate Tables
Clearly the OnlineAdviser service produces more accurate results but not everyone can afford to pay or wants to pay for personal service. The free services are convenient, but do not always produce good results. Eventually more options may be available but for now, these are the only choices available to OnlineAdviser members and most other health care shoppers.
Web Resources: CelticEnrollment.com provides downloadable forms and free HSA plan rate quotes for most states available online or by telephone. Requires online registration. FreedomBenefits.net offers online HSA plan rates sheets and downloadable application forms for most states. MedSave.com offers the online link to the state-controlled service for New Jersey HSA-qualified health insurance plans. TonyNovak.com/onlineadviser.htm offers details and sign-up for OnlineAdviser service nationwide. HealthSavingsAccount-HSA.com offers downloadable HSA application forms and an extensive FAQ section on Health Savings Accounts. BasicHealthInsurance.net – supplemental insurance that may be kept in addition to the High Deductible Health Plan to cover opt-of-pocket expenses that does not disqualify the owner from the HSA tax deduction. Ehealthdiscountplan.com – A PPO discount plan that operates independently from insurance. Short-term-medical-insurance.com – low cost plans for covering periods in between permanent coverage.
About the Author: Tony Novak, MBA, MT, is an accountant, writer, and adviser based in Narberth, Pennsylvania. |
