Do you have a deductible on your auto and home policy under which you first pay claims when they occur? Most auto and home insurance policies have a deductible and they often have limited benefits, such as liability limits and payment based on actual cash value, rather than replacement value.
What's more, when you purchase auto insurance, your policy benefits do not include:
Ø Oil Changes
Ø Battery Replacements
Ø Tune Ups
Ø Tire Rotation
Ø Tire Replacement
Ø Other general services
The same limitations apply to your homeowners policy. Benefits do not include:
Ø Furnace filter changes
Ø Lawn services
Ø Roof replacements
Ø Chimney cleaning
Ø Carpet cleaning
Ø Other general services
When you purchase health insurance, shouldn’t the same theory apply, vis-a-vis a policy deductible and the payment of routine or minor services out-of-pocket? In essence, you purchase health insurance with a deductible, and set aside funds on a tax-favored basis for:
Ø Routine physicals
Ø Prescription drugs
Ø Immunizations
Ø Routine and preventive tests
In applying the same theory to healthcare, we purchase health insurance for larger claims and self-fund smaller, more routine charges. Subsequently, insurance premiums can decrease and stabilize. What’s more, smaller claims and purchases can be paid on a pre-tax basis, unlike purchasing furnace filters for our homes and oil changes for our cars!
This is the basic premise of Health Savings Accounts (HSAs). Visit our website @ http://www.firstsourcebenefits.com/ for more information on HSAs, or e-mail us at bbrunk@firstsourcebenefits.com
What's more, when you purchase auto insurance, your policy benefits do not include:
Ø Oil Changes
Ø Battery Replacements
Ø Tune Ups
Ø Tire Rotation
Ø Tire Replacement
Ø Other general services
The same limitations apply to your homeowners policy. Benefits do not include:
Ø Furnace filter changes
Ø Lawn services
Ø Roof replacements
Ø Chimney cleaning
Ø Carpet cleaning
Ø Other general services
When you purchase health insurance, shouldn’t the same theory apply, vis-a-vis a policy deductible and the payment of routine or minor services out-of-pocket? In essence, you purchase health insurance with a deductible, and set aside funds on a tax-favored basis for:
Ø Routine physicals
Ø Prescription drugs
Ø Immunizations
Ø Routine and preventive tests
In applying the same theory to healthcare, we purchase health insurance for larger claims and self-fund smaller, more routine charges. Subsequently, insurance premiums can decrease and stabilize. What’s more, smaller claims and purchases can be paid on a pre-tax basis, unlike purchasing furnace filters for our homes and oil changes for our cars!
This is the basic premise of Health Savings Accounts (HSAs). Visit our website @ http://www.firstsourcebenefits.com/ for more information on HSAs, or e-mail us at bbrunk@firstsourcebenefits.com
No comments:
Post a Comment