Affordable Individual & Family Health Insurance in Louisiana, LA

Affordable Health Insurance in Louisiana

With health care costs skyrocketing out of control, many people are having a hard time finding affordable health insurance. If you are a Louisiana resident, a wise choice for health insurance is a HSA high deductible health plan.

Louisiana Health Insurance Plans for Individual, Family, and Self Employed

An HSA health insurance plan is made up of two components, a high deductible health insurance plan and a tax-exempt health savings account. A HSA is a Health Savings account designed for medical expenses only. A high deductible health plan offers lower monthly insurance premiums in exchange for you being responsible for higher deductibles. A HSA in combination with a high deductible health plan (HDHP) protects against large medical bills, gives tax advantages, and provides lower monthly premiums.

Deductibles

Deductibles are the out of pocket expenses you agree to pay before the insurance company begins paying for a claim. Once the deductible has been met, the insurance carrier generally pays 80% to 100% of your medical expenses after that. Rates for a high deductible health plan varies depending on many risk factors; including, individual versus family coverage, age, where you live in Louisiana, and lifestyle. Even though deductibles are higher, the overall costs of this plan is estimated to be 30% lower than traditional insurance.

HSA

A person can contribute to a Health Savings Account (HSA) if they have an approved HDHP. If you don't use the money to pay for out-of-pocket medical expenses on a given year, that money will accrue interest tax-free for future use.

The most you can put into your HSA in 2012 is $3,100 for an individual and $6,250 for a family. Individuals age 55 to age 65 can contribute an additional $1,000 in 2012.

Catastrophic and High Deductible Health Insurance Coverage

If you're looking for low insurance premiums but want coverage that picks up the slack when it comes to major medical concerns, a catastrophic health insurance policy might be just what you need. Read on for more information about this cost-saving health insurance strategy.

Also known as "high deductible" or "major medical" insurance, catastrophic health insurance is designed to protect you from bankruptcy because of medical costs, while encouraging you to shop wisely for routine health care.

Here's how it works:

• You choose a higher-than-normal deductible, usually between $1000 and $2,000, depending on your insurer.
• You agree to cover your own medical costs up to that deductible amount.
• Once you spend up to your deductible, your insurance company covers 80-100 percent of your medical costs (with certain restrictions).
• Premiums are typically lower than traditional insurance
• Coverage for preventative care is often not included

A catastrophic health plan or major medical plan works best for people who:

• Need short term coverage
• Are younger and generally healthy
• Do not take medications on a regular basis
• Can afford routine doctor visits, but would be financially devastated with longer hospital stays or surgeries
• Do not have pre existing conditions
• Are students or self employed

As you can see, catastrophic health insurance leaves the choice in your hands. You make the choices that fit you and/or your family best; your insurance company rewards you for taking on a measure of additional financial risk.

When shopping for a new health insurance plan, be sure to give the high deductible insurance plans, including major medical plans, serious consideration. This type of health care plan is growing rapidly as people begin to see the benefits and cost savings. You might be able to save a bundle!

Getting Louisiana Health Insurance Quotes

One of the best ways to find affordable Louisiana health insurance is to go to an insurance quote website and request quotes. Immediately after you complete their short form, you'll get several low cost HSA, HMO, PPO, and POS quotes while still online. After you have your quotes, you can compare the different policies and see if one will work for you. It's that easy!

Just click on the following link to get affordable Louisiana health insurance quotes and more health plan information. It's fast, it's free, and you're under no obligation. You'll get 4 to 5 competitive quotes for health insurance in Louisiana.