Posted on 03/16/2009 8:24:39 AM PDT by Badabing Badablonde
TAMPA, Fla., March 16 /PRNewswire-USNewswire/ -- Democrats are moving quickly to socialize American health care with the SCHIP expansion. Michael Tanner of the CATO Institute whined, "Shouldn't we at least talk about it?" The cost to the federal taxpayers is enormous and President Obama has promised to reduce funding in Medicare to help pay for SCHIP's expansion. Representative Steven King (R-IA) labels SCHIP expansion, "A Cornerstone for Socialized Medicine."
The biggest problem with SCHIP is the danger to children who sign up for it. Millions of children have been terminated off of their SCHIP insurance on their 19th birthday regardless of their medical history. Ron Greiner of Save101.com warns, "My daughter has MS and the medication alone is $2,500 a month or $30,000 per year. You want insurance on your child that is permanent and portable with a high lifetime maximum benefit of at least $5,000,000."
Millions of children are expected to switch to SCHIP from their parents' employer-based insurance. Some employers charge workers $300 to $500 a month to insure a child. Ron said, "Employer insurance is too expensive. In Tampa, HSA 'Individual Insurance' for a child is less than $50 a month that pays 100% after the deductible on covered inpatient, outpatient and prescription drugs. Like many HSA plans it has a $0 deductible for preventative services." In Des Moines a child can enroll on permanent HSA insurance for less than $40 a month. Parents can call 877-Save101 to determine their child's cost.
Ron believes parents don't need government to have a plan. He tells parents, "Insurance for children is inexpensive. Parents that choose SCHIP are gambling that their child won't get sick or hurt."
Save101.com specializes in HSA insurance for the self employed. Many families have HSA health insurance for less than $200 a month, then they grow their savings in their HSA. Ron says, "The HSA is great to save with because the HSA enjoys tax free deposits, growth and withdrawals. IRAs and 401Ks are old taxed accounts. Some people save more each year in taxes, with their HSA, than the cost of their insurance!"
The HSA is not available in New York. Save101.com is the internet presence of Insurance Processing Corporation (IPC). Save101.com services clients with online enrollments in FL, MI, PA, IN, NE, IA, OH, KY, and NV. Medical Underwriting is required. Reform has begun at Save101.com
I have a health savings account and love it. I just wish it was an option when I was young and didn’t have high medical bills. We would have a fortune saved. About 1/2 of my insurance premium goes into our health savings accounts. We pay all of our medical bills up to the deductible, then health insurance kicks in. We have had our family (3 of us) in it for 2 years and have a balance of $6200 in our HSA. That is $6200 that the insurance company would have if I had regular insurance. I have 3 prescriptions and my husband has 2, so that is what eats up most of our HSA. We could also use the left over money to purchase everyday medications, pay the dentist, and eye glasses. If you are young, START an HSA NOW!
That sounds great. Did you find your own HSA, or did your employer make you that offer?
I didn’t look into this during open season, so I would have to wait if I want to change. My employer did a piss-poor job of giving equal attention to all of our options, thus many of us were unaware that HSA’s were even available. Now, being a newly-single mom, I’ve got to make cuts where I can, and this sounds perfect for me and my kids.
bookmark for later.
I’d like to hear from someone what HSA means. It’s not defined in this post.
Health Savings Account......the press article could have done a better job of defining the process. Its basically an account where money is deposited rather than premiums paid, and unspent money accumulates if no healthcare is needed.
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