Do you currently have enough savings to cover an unexpected health emergency?  If not, you may want to start setting aside money in 2015.  With the cost of health care on the rise, it is important to know you and your family are covered in case of a medical emergency.  One route you may want to consider is obtaining a Health Savings Account Eligible health plan.  If you purchase an HSA-compatible high-deductible health insurance plan, you can pair it with a health savings account and start saving for the unexpected.  Funds placed in the HSA account may be used for qualified medical expenses and there is no minimum contribution amount.  You are also able to claim a tax deduction for any and all contributions you make throughout the year.  In this way, your money grows on a tax-free basis.

In 2015, HSA holders can save up to $3350 for individuals and $6650 for families.  Holders 55 years of age and older can save an extra $1000, increasing savings for individuals to $4350 and $7650 for families.  All of this money is 100% tax free so this is a great way to increase wealth and create a small tax shelter.  For more information on HSA limits for 2015, click here.

Also, in 2015, a high-deductible health insurance plan is one with a deductible of at least $1,300 for self-only coverage and $2,600 for family coverage.  See eligible Blue Cross Blue Shield HSA compatible plans.

Once you have a clear idea of your healthcare needs and your financial situation, you can determine your plan options and compare benefits.  If 2015 brings life changes that make a different kind of insurance plan something to consider, consider a BCBNC HSA compatible high-deductible health plan and start saving the smart way!

For more information on Blue Cross Blue Shield of North Carolina health insurance coverage, the Marketplace and healthcare gov  to apply for your subsidy, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents.  Let us help you navigate through the Health Care Reform changes in accordance with the new regulations of The Affordable Care Act, also known as Obama care.

Health Savings Account Contributions amounts are updated each year by the federal government to account for inflation. For 2014, the maximum annual contribution is $3,300 for an individual (up $50 from 2013), and $6,550 for a family (up $100 from 2013).    In 2014, those age 55 or older can contribute an additional $1,000 above the maximum to their HSA.

Blue Options HSA is a new way to pay for health care. Blue Cross Blue Shield of North Carolina has taken their most popular plan design’s PPO network and paired it with a High Deductible Health Plan (HDHP) and a health savings account (HSA), which has similar characteristics to a 401(k) or an IRA but for qualified medical expenses. Blue Options HSA offers many advantages.  Get your Free Rate Quote for this plan today and call our office so we can go over the benefits and process to apply and enroll.

For more information on health insurance coverage in North Carolina, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our professional agents. Our agency provides coverage for health insurance in North Carolina through Blue Cross Blue Shield of North Carolina (BCBSNC). It would be our pleasure to help you navigate through the Health Care Reform changes in accordance with the new regulations of Obama care. Call us for details.