Health insurance bankruptcy - A common dilemma

Medical bills are the leading cause of bankruptcy, according to a study of Harvard University, also showed that more than 75% of those due to mounting medical bills bankruptcy insurance to start their disease had.

These days, the word "Insurance" may be a misnomer. Health care coverage insures no longer paid most of your medical costs.The safety net that medical insurance in the past provided with holes that are so great that many people, fall, so that you almost as vulnerable as those without insurance become enforces hat.Diese people as underinsured.

Two reasons for the recent outbreak of people are thinking about health care costs and fight for your rewards to pay even if you are busy and health benefits through work or Medicare eligible are below.

First, not health care rising costs at twice the rate of inflation and most Americans can't keep up. Larger pieces of a person income now go to pay for insurance and treatments. Prescription drugs can be also costly.

Secondly, employers are more passed the financial responsibility for health care to your employees. In an attempt to save money, employers are converting comprehensive coverage (width contract that cover almost all kinds of medical expenses, with a few internal borders and generally subject to a small deductible and coinsurance provides), high deductible coverage. The result is that the employees of more costs take. Premiums for health insurance through employer increased almost 8% in 2006.

With the cost of maintaining health exploding consumers are desperate to keep costs as low as possible options.Unfortunately some options at first glance look good, but your Taschen.Eine could may end next emptying possibility that your concerns is to make it easier to finance your own health care by you money in reserve.There are two ways to do this.Flexible spending and health savings accounts (HSA)

May flexible spending accounts money from your pay cheque aside, before taxes are taken out and use the account for medical costs in the course of the year to zahlen.Weil you lose money in the account Whats left at the end of the year, accounts for well-known recurring expenses, such as regular prescription cost work flexible output.

A health savings account works something like a long-term flexible spending account, enable to save tax-free for medical costs based on, but you need an HSA-qualified high deductible health Plan.Jemand younger than 65 who buys this kind of politics a HSA open. you may not be enrolled in Medicare, however, or another insurance company, a qualified high deductible plan not. contributions to the HSA's are limited and annually opposed angepasst.Im with a flexible spending account, the money in an HSA is yours and rolled and can be used in future years, and even grow by investment income.

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