The Consumer Driven Health Plan Approach

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The Consumer Driven Health Plan Approach

to Lowering Your Healthcare Costs

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With healthcare costs on the rise each year, good effective solutions are usually welcomed with open arms. Here is a real, effective and affordable health insurance solution that will likely save you thousands of dollars each year.

Who This Solution Is For

If you or your family are relatively healthy, don't over-utilize your benefits, and have few prescription needs, you should consider this as a real solution to ease the cost of healthcare for you or your family.

Who This Solution is Not For

Individuals and families that meet their deductible each year, have ongoing medical expenses, utilize their plan often, or have multiple, expensive prescriptions will most likely be better off on a traditional plan. Traditional plans, although more expensive, have low medical deductibles, and office visit coverage and prescription benefits that are typically paid before the deductible.

The Two Parts to a Consumer Driven Health Plan

Part 1: The Qualified High Deductible Health Plan

The first part is the qualified high deductible health plan. This plan replaces your current insurance plan with a high deductible plan. Deductible typically range from $1,500 to $5,000 for individuals and $3,000 to $10,000 per family.

Your high deductible health plan won't cover much until you reach your deductible, but it won't cost much either. The amount you pay in health insurance premiums will be much less than it will on a traditional plan. This is the biggest benefit of using a consumer driven plan. But, the benefits don't stop there.

Part 2: Health Savings Account

The second component of the solution is the financial account, or the health savings account (HSA). Once you have a qualified high deductible health plan in place, you are eligible to open up a health savings account. This is simply a checking account that has tax benefits.

Since your deductible is high and you are responsible for the everyday expenses, you can deposit money into your health savings account. When you do so, the amount you deposit becomes tax deductible. You use the funds in your account to pay for medical, dental, vision, and other expenses.

There are few solutions to rising healthcare costs that are as effective and affordable as this one. Find out if consumer driven healthcare is right for you by requesting a free online quote.

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