Life & Health Insurance/HSA's


I have read about Health Savings plans and still don't understand them, I just can't absorb it. I currently am 61 and have a regular PPO plan with Blue Cross. I have a $10,000 deductible and premiums for one individual just went up again, to $290 mo. I pay $15 for generic drugs and pay for all Dr. visits (minus the 'contract provider' discount). With "HSA associated" plans, I only see one with Blue Cross for me ("Luminos HSA Plus"), the deductible is lower but the premiums higher, $360 a month. From what I can tell, other than it being a tax benefit, with an HSA I would still have to pay a high premium every month and then also have to start putting money into an account to pay for Dr. visit or whatever else. I already pay for it until the deductible is met. I must be missing something, other than having non-taxed money in an account that I have to put it in myself, how does this benefit me?

Hi Lee,
  Generally speaking, HSA's are better because they have lower out of pocket expenses versus traditional copay plans. They do have some tax benefits that are nice, but if an individual does not have additional funds for health care and/or very good health (e.g., goes to the doctor more then 3X a year, multiple meds, etc.), a HSA is probably not be a good fit.

What you paying for your premium is VERY LOW compared to your peers. I'm not sure what state you are in, but I'm assuming it's one that Anthem markets based on the plan you mentioned. The average premium for somebody at your age on a national level is $350-$550 a month.

I'd consider switching if you are not taking a lot of meds and don't visit the doctor frequently. You will have to run the math to see what you would save annually and run some "what-if" scenarios factoring in the average cost of a doctor visit, tests, etc. to see if you would be in the green or red.

On the flip side of things, my gut is saying you should keep what you have based on what you are currently paying and wait for Obamacare to be fully implemented in 2014. Time will tell how, or if, it helps people afford health insurance.  

You can read all about the latest information by visiting
There are some proposals being drafted right now targeting older citizens that DO NOT sit well with me. As always, it's best to keep informed on such issues and plan for the future.   

I hope this helps.

J.R. McCollough  

Life & Health Insurance

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John (J.R.) McCollough


I can answer questions pertaining to Health and Medicare insurance for individual and/or family coverage, students, retired/separated military members, small businesses under 20 employees and seniors in the United States. Additionally, I can assist people in understanding their options if they've been turned down for insurance and do not know about what state and federal programs are available.


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