High Deductible Health Insurance
Why pay a high price for health insurance benefits you seldom use?
A High-Deductible Health plan provides a lower insurance cost while still limiting your financial burden for healthcare from a major injury or illness. These plans are available for either an individual or a family. The plans we offer from Blue Cross Blue Shield avoid the Affordable Care Act tax penalties.
The high-deductible plans trade the “access” benefits (i.e., doctor co-pays or Rx drug co-pays for example) for a lower monthly cost. An additional benefit of the Health Savings Account compliant plans is the option of using the tax-advantage H.S.A. to save for a broad range of health costs.
High-Deductible / H.S.A. compliant Choices for 2020
Blue Cross Blue Shield offers two health plan that includes the “Essential Benefits” required by the Affordable Care Act, includes a “first dollar” preventive screening benefit and is compliant with Health Saving Account rules.
Blue Advantage Bronze HMO Bronze 302 – An HMO plan with a $6900 individual deductible / $13,800 maximum out-of-pocket. Deductible is $6000. This is the lowest cost plan that is H.S.A. compliant.
Blue Advantage Plus Bronze HMO Bronze 201 – An HMO plan with a $6900 individual deductible / $13,800 maximum out-of-pocket. Deductible is $3550. The “Plus” is limited access outside of the HMO network.
Maximum Contribution Limit for H.S.A.
The 2020 maximum contribution limit for the Health Savings Account for the tax savings is $3550 for an individual and $7100 for a family (including any immediate family group of 2 or more people). There is an additional “catch-up” contribution available for people over at 55 of $1000.