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How Will an HSA Save Me Money?
By Daryl Kulak


Ppi Reclaim
Banks had it their own way for quite some time. Fat cats were getting their cream and their poor customers were being fleeced in the process. They`d go cap in hand to the banks for a loan and were offered payment protection insurance (PPI) at the same time. In many cases the rate for the loan would be lower if PPI was taken out at the same time making it seem more attractive. However, the cost of PPIs could vary from 13% right up to 56% of the loan amount. Moreover, clauses were often put into the policies that meant they wouldn`t pay out anyway in times of sickness or redundancy. People have wised-up in recent times and those who think they might have been pressured into paying for, or misled about a policy, can speak to claims management teams about a possible Ppi Reclaim. They could be entitled to thousands of pounds if the Ppi Reclaimis successful. If you weren`t given all of the facts about your PPI in the past then you have a strong case for the Ppi Reclaim. Why should the banks get away with fleecing their customers over a number of years, especially with regards to payment protection insurance? Customers who think that they might have been treated unfairly have a strong right of appeal.


The Health Savings Account (HSA) is a tool to help you save money on health insurance. But how does it do that?

A Health Savings Account (HSA) is just a savings account. Duh, I know. It is just like a bank account where you can put money in and you can gain some interest.

But it has two special qualities that a regular bank account doesn?t. First, when you put money in, that amount gets reduced from your taxable income. And you know what that means! You pay less taxes.

The second thing that?s different about an HSA is that you can only withdraw money for specified medical reasons. Doctor visits, pharmaceutical or over-the-counter drugs, hospital visits, etc. may be paid with HSA money.

Now, all this helps you with money a little bit. You gain some interest in the account. And you pay a little less in taxes.

But the real benefit comes in an indirect way.

When you sign up for an HSA, your HSA custodian (insurance agent, bank, financial advisor, etc.) will ask you if you have a high-deductible health plan. That means whether you are currently covered by a health insurance policy that has a deductible of at least $1,000 for an individual and $2,000 for a family.

If you don?t have that type of health insurance, you cannot get an HSA. Period.

But if you do, then the health insurance and the HSA fit together perfectly.

You pay for the small stuff each year with your HSA money. Then, when and if a big medical bill comes, your health insurance policy covers it.

But a funny thing happens when you switch from a low-deductible health plan to a high-deductible health plan.

Your premiums, that is the payments you have to make month-to-month, drop through the floor. They become astonishingly low.

For my wife and I, a low-deductible policy would cost about $1,100 a month. That?s a huge amount!

But we?ve chosen a high-deductible policy, which costs $175 a month.

That?s an incredible difference.

In fact, it is such a huge difference, that I want you to do a little calculation with me. What if I got sick every single year, so sick that I had to use my entire HSA every single year. I would basically exceed my deductible every year.

Would I still be glad that I had a high-deductible policy and an HSA?

Yes, I would. Really.

Add up the amounts and you?ll see. $1,100 per month equals $13,200 per year. If the deductible is $250, I?d have to pay that too (if I was so sick) so the total would be $13,450.

With the high-deductible policy, $175 times twelve months equals $2,100 in premiums. Add a high-deductible of $5,000 and you?ve got a total of $7,100.

This means that, in my worst year I would still save $6,350.

What about in a healthy year? I would save $11,100. That?s like two all-expenses-paid vacations a year!

Or, in my case, that?s a ton of yoga classes, visits to a naturopath, polarity therapy, massages and reflexology sessions.

Do the math for your own family. You will be surprised. I teach this stuff in classes and there are often people who suddenly blurt out ?I never realized that!? and I can just see them scurrying to their insurance agents after the class to make the changes and sign up for an HSA.

Health Savings Accounts are a wonderful tool to help you save money on insurance. They are available today! See your insurance agent, bank or financial advisor for details.

For more information about this article and/or the author visit http://www.healthoffthegrid.com

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