Who hasn felt confined by their HMO or PPO plan when they need to see a doctor who isn in the plans network?
Paying for your doctor visits through an HSA also encourages smart consumers to actually start asking doctors about their fees. This, in turn, could even create an incentive for medical providers to keep their fees competitive. Another huge benefit of HSAs is that they’re portable from employer to employer, or from one provider to another. When you leave your job, you get to take the balance of your HSA with you and either roll it over to your new employer’s HSA plan or open an individual plan with another provider. With an HSA, you’re in control of your money. 6. Once you hit 65, the money is all yours — penalty free. Let’s say you contribute to your HSA for years and years, and actually have lower medical expenses than you expected. When you turn 65, you can start tapping into your HSA for any reason, not just qualified medical expenses. You’ll still pay ordinary income taxes on non-qualified expenses because you funded it with pre-tax dollars, but there’s no penalty. 7. HSAs aren’t
Related Questions
- What is the difference between an HMO and a PPO insurance plan? What if my plan is an "indemnity" insurance plan?
- I am enrolled in the Indemnity PPO Medical Plan; how do I find a doctor in the Anthem Blue Cross network?
- How can I find out if my doctor is on the Self-Funded PPO or Health Plan of Nevada HMO Provider list?
