by ucsd » Wed Oct 31, 2007 11:14 pm
I am a research scholar in UCSD. 26 yrs old, in good health condition, I want to purchase one health insurance from one company, which should have a great financial strength and good coverage in CA. The deductible of the health plan shall not exceed $500 per accident or illness. Thank you a lot.
Posted: Thu Nov 01, 2007 07:31 am Post Subject:
My friend, you just need to understand one thing..that in CA the health care products are controlled by the dept. of Insurance & dept. of managed care. The carriers have to circulate their premium structure to the authorities & they can rarely be altered at a later date except when supported by a quote in writing. The industry over here wants the users to deal through any authorized agency eg. Bu. Insurance services since its free!
Edmund Bailey
Posted: Thu Nov 01, 2007 09:17 am Post Subject: your chances of saving more
Hi,
I can understand your wish for a lower deductible but at the same time I just wanted to confirm that you are aware of the fact that a lower deductible means paying a higher premium. So in a way if you choose a higher deductible plan your chances of saving more money are brighter. These savings would not get taxed & could be expended towards specified medical expenses. Apart from all of these you could also pay lesser towards your premiums.
Regards,
Collinj77
Posted: Thu Nov 01, 2007 09:53 am Post Subject: HSA with goldenrule
Hi
I'd suggest you try out the HSA with Golden Rule. You have one advantage over here. The HSA associates a high deductible health policy with your savings a/c. The deductible is paid from this savings a/c. As soon as the deductible is paid up then the insurance commences. The residue in your savings a/c is then subjected to earn the interest. So my friend, in this case your contribution towards the deductible could be lesser than even $250. This is becoz your carrier doesn't even have to invest time & money towards the claims anymore.
GoldenruleagentRugby
Posted: Thu Nov 01, 2007 04:39 pm Post Subject:
So my friend, in this case your contribution towards the deductible could be lesser than even $250. This is becoz your carrier doesn't even have to invest time & money towards the claims anymore.
GoldenruleagentRugby
Welcome to the forum, Rugby! I just want to clarify the information that you left in the thread to make sure there's no confusion.
When reading your post, it left me with the impression that the insured could have a $250 (or lesser) deductible contribution within an Health Savings Account (HSA). As an agent for the Golden Rule plan, I hope that you know better, but let's make sure that everyone knows what's up.
For 2007, the $$ amounts that are associated with an HSA are as follows:
* Deductibles are set at $1100 for an individual plan and $2200 for a family plan.
* The maximum contribution to the savings account are $2850 for individuals and $5650 for families, with an additional $800 allowed if you are age 55 or older. This is referred to as the "catch up" allowance.
* The maximum out-of-pocket is $5500 for individuals and $11,000 for families.
Please keep in mind that HSAs are wonderful for those with predictable medical expenses, and always remember that you should NEVER "square peg, round hole" your client. Make sure that the product fits the need, and do not ever make the need fit the product. That's a recipe for a lawsuit!
If you're curious about any more info on HSAs, HRAs (big diff) and any other medical plan needs...post a question in the forum, and we'll be sure to respond!
InsTeacher 8)
Posted: Sun Nov 04, 2007 04:26 am Post Subject:
its pay more now and less later, or pay less now and more later
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