Health insurance is a kind of insurance wherein the insurance company pays the medical costs of the insured individual if the individual in question falls ill due to covered causes, or due to accidents. The insurer may be a private organization or a government agency. The major purpose of health insurance is to cover medical [...]
Posts Tagged ‘Coinsurance’
The Health Savings Account
March 23rd, 2010
admin What is a Health Savings Account (HSA)? An HSA is a tax-advantaged savings account, like an IRA, tied to a high deductible health insurance plan. The health savings account may be used to pay for deductibles, coinsurance and other qualified healthcare expenses (Section 213(d) of the Internal Revenue Code), on a tax-free basis. Unlike other [...]
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