There are a number of options for someone searching for a high deductible health plan in MA combined with an HSA. A Health Savings Account is a savings account into which you can deposit benefit dollars on a tax-preferred basis. The HSA will allow the participant to save for future qualified medical and retiree health expenses from the money they save on insurance by electing the high deductible health plan.
HSAs are owned by the individuals so it brings back a sense of consumerism to the participants when making decisions in regards to health care. Funds from the HSA can be used to pay for qualified medical expenses at any time.
I would recommend visiting this site: http://www.highdeductiblehealthplanstoda. . It contains a variety of information about high deductible health plans and the ways to implement it with an HSA. I would also recommend looking into partially self funding the
high deductible health plan with an HSA in front. This is the best way to maximize your benefit dollars, while maintaining the same level of benefits and creating a situation where you can save money you do not use towards claims.
I would start at that website but the high deductible health plans are available through any fully insured carrier. In MA I would pursue Blue Cross Blue Shield, Harvard Pilgrim, and Tufts Health Care. Ask them for the varying premiums associated with the different deductible levels. The greatest savings will be with the highest deductible and then buy Aggregate Wrap Stop Loss Insurance to put a cap on the excess liability of the higher deductible. This is also a good source, this blog contains info about high deductible health plans, HSAs, Stop Loss Insurance and even has YouTube videos with demos.
Jordan D · 6 years ago