The BEST Health Insurance savings hack that you wish you knew sooner!👌- Call us today at iHealthBrokers at 888-410-0344. Our services are 100% FREE!

Call us today at iHealthBrokers at 888-410-0344. Our services are 100% FREE!

★☆★ABOUT THIS VIDEO★☆★
0:00 Intro
0:30 Marketplace Insurance
0:59 MAGI
3:03 Silver Plans
3:20 Picking the Right Plan
4:31 Short Term Medical
6:09 Catastrophic Coverage
8:57 HDHP and HSA
11:45 BONUS

You’ll sometimes hear plans on the marketplace referred to as obamacare. These plans are part of the affordable care act.
All plans must offer the 10 essential benefits as detailed on healthcare.gov

Lower your MAGI- if you are still ineligible, there are other options.
Pick the Right Plan- more on HDHP’s later
SIlver Plans for Extra Savings

If a marketplace plan isn’t for you either because you are ineligible for a premium tax or you need the flexibility that comes with a nationwide PPO plan, look into a STM.

In the past, STM were referred to as catastrophic coverage plans because they offered such bare bones coverage. That’s really not the case any more because so many plans offer such extensive benefits. However catastrophic coverage plans are still available and may be a great way to have access to a lower cost healthcare plan. They are another types of HDHP with a lower monthly premium.
Catastrophic plans on the marketplace will still offer some benefits prior to meeting your deductible. For example, you will have 3 primary care doctor visits per year covered even if you haven’t met your deductible yet.
Other than that, your insurance will mostly be there for large medical expenses. You likely will not have any coverage until your’ve met not only your deductible, but your out of pocket maximum.
Your OOP is the maximum amount that you can be charged for medical spending in a given year. Once you’ve met your OOP max, your insurance carrier will take on he remainder for any covered, in network benefits.

HDHPs are high deductible health plans. Some offer a special benefit called an HSA- health savings account. HSAs are only offered with HDHPs.

If you enroll in an HDHP, some services such as preventative care and wellness visits will be covered even prior to meeting your deductible.

If your HDHP offers an HSA, this is a great money savings hack.

HSAs are health savings accounts. You can contribute up to a certain amount and that amount is pretax. Basically this will lower your taxable income. This can possibly put you into a lower tax bracket to save money when you file or even make you eligible for a larger premium tax credit if you enroll in a plan through the marketplace.

The money that you contribute will sit in an interest bearing account. That interest is also not taxed. You can withdraw the funds for a qualified medical expense and the list is very long even including chiropractic care, dental bills or even OTC medications.

But you don’t have to use those funds. You can let them sit there and continue to accrue interest. The account will roll over from year to year. You can even invest a certain portion of it. Anything earned from those investments will also be tax free.
Until you turn 65, there is no penalty for withdrawing for a qualified medical expense. After 65, it converts to a basic retirement account and you can use it as you see fit.

Finally, the easiest way to save money on your health insurance is to work with a licensed broker. They will listen to your needs and find you the best possible plan at the lowest possible rate. If you have any questions or concerns, please feel free to give us a call at (888) 918-0518 or schedule a call today.

Give us a call at (888) 410-0344 or visit us online at

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HSA & HDHP

Calculating Your MAGI

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Estimating Your Income

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Health insurance is one of those things that we all know we need, but often struggle to afford. With rising healthcare costs, finding ways to save on health insurance has become increasingly important. If you’re someone who has been looking for ways to save on healthcare costs, then you’re in luck! We’ve got the best health insurance savings hack that you wish you knew sooner.

The key to saving on health insurance lies in understanding your options and making the most of them. One of the most effective ways to do this is by taking advantage of Health Savings Accounts (HSA) or Flexible Spending Accounts (FSA). These accounts allow you to set aside pre-tax dollars to be used for qualified medical expenses, such as doctor’s visits, prescriptions, and certain medical procedures. By contributing to these accounts, you can save money on healthcare expenses and lower your taxable income at the same time.

Another valuable hack is to carefully review and compare different health insurance plans before making a decision. Many people make the mistake of automatically enrolling in their employer’s health insurance plan without considering other options. By taking the time to shop around and compare different plans, you may find a better plan with lower premiums and better coverage. Websites like eHealthInsurance and HealthCare.gov can be valuable resources in finding and comparing different health insurance plans.

Additionally, taking advantage of preventative care services can ultimately lead to significant cost savings in the long run. Many health insurance plans offer free or low-cost preventative care services, such as annual check-ups, vaccinations, and screenings. By staying on top of your preventative care, you can catch potential health issues early on, which can help prevent more serious and costly health problems down the line.

Finally, don’t underestimate the power of negotiating with healthcare providers. If you’re facing a large medical bill, it’s always worth reaching out to the provider to see if there’s any room for negotiation. Many providers are willing to work with patients to set up payment plans or offer discounts for paying in cash.

In conclusion, there are several effective ways to save on health insurance costs, and these hacks can make a significant impact on your overall healthcare expenses. By taking advantage of HSAs or FSAs, comparing different insurance plans, prioritizing preventative care, and negotiating with healthcare providers, you can maximize your savings and ensure that you’re getting the most value out of your health insurance plan. These hacks may seem simple, but they can lead to substantial savings and financial peace of mind in the long run. So, don’t wait any longer; start implementing these hacks today and watch your healthcare expenses dwindle!