Health Insurance Colorado Online
but we also insure Annuities, Life, Cars and Homes.
Saving thousands of dollars every year on
Health Insurance Colorado is often a matter of changing one’s view point and a little shopping. Why are you or your employer, paying such horrendous prices for coverage? Actually, many people don’t need too. You can often save $2,000 - $4,000 a year with some planning.
The first step is to understand that the purpose of insurance originally was to cover catastrophic losses that one person would have difficulty in ever paying back. As hospitals charged more and more, insurance companies stepped in to help people if they had a major hospital stay. Then the workplace came in and began offering insurance as a “benefit” that other employers weren’t doing, thus having an edge to get the best employees. This eventually evolved into covering doctor appointments and prescriptions.
Why do you need insurance for a doctor visit? Do you expect your car insurance to pay every time you go to the mechanic? Do you expect your house insurance to pay when your furnace breaks or you need to update? Of course not, you understand that those insurances are for catastrophes. Can you imagine a $150 oil change? That’s what we would have if people thought the same way about car insurance as they do health insurance. Then car insurance would be more expensive in the same way health insurance is now.
HSA’s were developed by the government to help people find affordable coverage apart from an employer. The idea is to have a high deductible insurance that is portable (can move to different employers or be for a small business owner), then be able to set money aside from the savings of the high cost employer plan into an account that is yours. The account is set up at a bank and often uses debit cards. You can choose deductibles from $2,000 - $10,000 or more, though $3,000 - $5,000 is normal. Often, you can save $2,000 or more in premium by doing this. You put that $2,000 into an account that is yours and help pay for the small doctor bills. As the years go on and you don’t have any catastrophes, you can build up your savings account into quite a nice sum. Even a catastrophe isn’t an issue as you will have saved plenty to pay off any deductibles.
Tax benefits abound with these plans as well. The premium for the insurance is deductible and the amount you put into the savings account is also deductible! Though there is a cap. Then, as long as you use the money in the savings for any health expenses, it is tax free coming out. This is an incredible tax savings and one of the best, if not the best, tax benefit in the IRS code.
At the insurance Superstore, we can help you decide if that type of plan will work for you. We then shop the top rated “A” companies and help find the best deal for your situation. No one can help you better than we can!.