Applied for HSA Health Insurance Today

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

I finally got around to applying to an HSA-eligible high-deductible health insurance plan today on eHealthInsurance. (Please see my previous posts on getting quotes and HSA pros and cons). I kind of dropped the ball, as Open Enrollment for my current insurance ends on 10/31, and I may not get my decision until after that. I was trying to get a State Farm-brokered plan from Assurant (only $65/month), but they don’t take applications that far ahead of time (I need to start 1/1/06). I don’t have any medical problems except for elevated cholesterol, but that might have raised my rate significantly, and I didn’t want to take that chance. At least it is a no-committment application.

My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.


User Generated Content Disclosure: Comments and/or responses are not provided or commissioned by any advertiser. Comments and/or responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.

Comments

  1. I’ve been trying urge my employer to do a match up with the current HSA plan that we have, but I doubt that it would happen any time soon.

    As for the elevated cholestrol, I just applied for a variable universal life insurance plan and today, blood/urine work was done. I know I have relatively high cholestrol. I know the monthly standard quote that I should have for my age. I just hope high cholestrol won’t hike up the rate too much. Keeping my fingeres crossed!

    Good luck with your application!

  2. I used your search box to find this post on HSAs. I have carried a HD health insurance plan for two years now and as of August 2004 I’ve owned an HSA account through State Farm. The rates of return on this account are really bugging me. The rates lag way behind what I think they should be at (1.49%-2.49% with no investment option), they charge a $25 annual fee, don’t have debt cards, or online account access. I’ve been looking around a bit trying to find a better account provider but can’t seem to find many viable candidates. Some candidates are better but only marginaly; they’re not better enough to hassal with an HSA transfer. I was wondering if you or any of your other readers might know of better account providers.

  3. Mike Hardin says

    I just opened an HSA at Cattle National Bank cattlebank.com. The fees are higher than State Farms ($20 initial, $3 mo. thereafter) but the rates make up for it, paying over 5% APY. I started to open my HSA w State Farm too, but when I got their brochure that didn’t list any rates, I went to their web site to find their tiered rate system. Like you I was very disappointed with the rates they offered, so I began to scour the internet for something better.

    Cattle Bank appears to be a small local bank in Nebraska, but they do an ACH draft of my checking account each month, allow me to pay doctors and hospitals online, provide my first 2 books of checks and a debit card each for my wife and me, and pay a great rate.

    They do not offer investing in this account, but it hasn’t grown large enough that I’d want it to be anything other than liquid right now. It doesn’t grow that fast because I pay all of my medical expenses out of it. However, doing so saves me 21% (15% Fed & 6% state) on all my medical expenses, and that is money that is available to invest elsewhere. Of course, those expenses were already deductible, but only to the degree they exceeded 7.5% of my AGI. They never did. But putting the money in my HSA first, then paying the bills from their, they are deductible from the first dollar.

Speak Your Mind

*