![]() A co-pay plan sets fixed dollar amounts (called “co-pays”) that you’re required to pay when you go in for medical services.That means you’re charged the same amount the insurance company would pay rather than the list price for medical care that you would pay if you didn’t have coverage. However, with a HDHP the insurance company negotiates reduced payment rates with medical providers. ![]() It may seem like paying “full price” until you meet your deductible isn’t saving you anything out of pocket.Reimbursements for qualified expenses made from the account are also not taxed. The money you deposit into a health savings account is tax advantaged, meaning that you can deduct contributions that you make to the account on your taxes. This is essentially a savings account where you can put money aside to spend on qualified medical expenses, including deductibles. ![]()
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