Consumer Driven Health Plans - An Idea That Brings Affordability and Tax Savings to the Table

The idea of consumer driven health plans came in response to rapidly increasing health insurance costs. In short, these plans allow consumers to pay for their medical expenses on a pre-tax basis, because they are taking on more everyday expenses such as office visits and prescriptions.

Consumer driven health plans are normally associated with a high deductible health plan that is qualified by the internal revenue service to receive tax benefits. They provide a specific solution to the problem of high health insurance premiums...

Higher Deductibles Means Lower Premiums

Because you are responsible for your everyday medical expenses, such as doctor's office visits, prescriptions, and urgent care visits, premiums for consumer driven health plans are normally significantly lower than premiums for full-benefit plans. Although some people have had a hard time wrapping their head around the idea of taking on more risk, consumer driven health plans have gained in popularity over the last few years.

Fringe Benefit: Tax Savings

Because you are taking on more risk, instead of the insurance company, you are able to pay for your medical expenses out of a health savings account that you own. You can deposit money pre-tax into your health savings account and pay for your medical expenses tax-free. It's the only tax advantaged account in the world like it.

You Can Still Keep the Basics

Many consumer driven health plans allow you to add a preventive care benefit to your plan. This allows you to have your annual physical, blood tests, and other preventive procedures paid for, before you are required to pay toward your deductible. Also, many plans allow you to add an accident rider that will pay for the first specified dollar amount of accidents each year.

There's no better way to capture affordability, quality major medical coverage, and tax savings in one package. If you're done paying high health insurance premiums and you are ready to take control of your own health care request a free quote for a consumer driven health plan now.

Also, visit my website about catastrophic health insurance plans to learn more about the options available to you or your family. While you're there make sure to claim your free copy of my eBook "Seven Money-Saving Health Insurance Tips."