IRS Releases 2010 HSA / Health Savings Account Limits

IRS announces 2010 HSA limits
Source: IRS Rev. Proc. 2009-29, IRB 2009-22

The IRS issued guidance on the maximum contribution levels for health savings accounts (HSAs) and out-of-pocket spending limits for high deductible health plans (HDHPs) that must be used in conjunction with HSAs. These amounts have been indexed for cost-of-living adjustments for 2010.

Annual contribution levels. For 2010, the maximum annual HSA contribution for an eligible individual with self-only coverage is $3,050. For family coverage the maximum annual HSA contribution is $6,150.

Out-of-pocket spending. The maximum annual out-of-pocket amount for HDHP self-coverage increases to $5,950 and the maximum annual out-of-pocket amount for HDHP family coverage is twice that, $11,900.

Minimum deductible amounts. For 2010, the minimum deductible for an HDHP increases to $1,200 for self-only coverage and $2,400 for family coverage.

For assistance with your 2010 Health Insurance Plan (H.S.A.), visit QuoteBroker.com or call (800) 783-0802.

Cigna now offers Individual Health Insurance

Cigna begins offering Individual Health insurance in California November 1st, 2009.

Cigna is well known for their group and business insurance throughout the United States, however in response to the nations push for Healthcare Reform, Cigna enters a competitive California insurance marketplace. Cigna's new products are straight forward and easy to understand, focusing on preventive care with low doctor co-pays, as well as minimal out of pocket expenses for a more serious medical/accident condition.

Cigna individual health insurance quotes are available online. Compare plan features and rates today.

What is Medi-Gap Insurance?

Medi-Gap Insurance, aka Medicare Supplement Policies cover the costs Medicare doesn't.

Medicare provides beneficial coverage for Seniors health related expenses but, at the same time, leaves gaps that you either pay for out-of-pocket or with private insurance. A Medicare supplement insurance policy (also called Medigap) is a health insurance policy sold by a private insurance company to help fill in those gaps.

With Medicare supplement insurance:

• There are no restrictive networks; you control and choose the physicians, specialists, and hospitals that you trust for your care

• You can go directly to the physicians you choose without pre-certifications and pre-approvals

• The benefits offer predictability and stability as the plans are standardized by the government
• You have coverage that helps with deductibles, copayments, and coinsurance
• There are 12 standardized Medicare supplement plans that offer varying amounts of coverage – with Plan (A) providing basic benefits and Plan (J) offering more comprehensive coverage.

Medi-gap - Medicare Supplement plans can be shopped online. This is the easiest way to compare plans, features and prices offered by health insurance companies competing for your business. QuoteBroker offers free insurance quotes from several different Medicare Supplement carriers in your area.

Medicare Presciption Drug Plan Enrollment Begins 11/15/09

What is Medicare prescription drug coverage? Medicare prescription drug coverage is insurance that covers both brand-name and generic prescription drugs at participating pharmacies in your area. Medicare prescription drug coverage provides protection for people who have very high drug costs or from unexpected prescription drug bills in the future.

Everyone with Medicare is eligible for this coverage, regardless of income and resources, health status, or current prescription expenses.

You may sign up when you first become eligible for Medicare (three months before the month you turn age 65 until three months after you turn age 65). If you get Medicare due to a disability, you can join from three months before to three months after your 25th month of cash disability payments. If you don't sign up when you are first eligible, you may pay a penalty. If you didn't join when you were first eligible, your next opportunity to join will be from November 15, 2009 to December 31, 2009. Medicare supplement plans, Medi-Gap Plans and Part D Medicare Prescription Drug plans can be purchased online at QuoteBroker.com

Your decision about Medicare prescription drug coverage depends on the kind of health care coverage you have now. There are two ways to get Medicare prescription drug coverage. You can join a Medicare prescription drug plan or you can join a Medicare Advantage Plan or other Medicare Health Plan that offers drug coverage.Whatever plan you choose, Medicare drug coverage will help you by covering brand-name and generic drugs at pharmacies that are convenient for you. Like other insurance, if you join, generally you will pay a monthly premium, which varies by plan, and a yearly deductible. You will also pay a part of the cost of your prescriptions, including a copayment or coinsurance. Costs will vary depending on which drug plan you choose. Some plans may offer more coverage and additional drugs for a higher monthly premium.

For more information write to info@qbcmail.com, or call (800) 783-0802