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A Health Savings Account or HSA type plan consists of two main parts. The first part is a “catastrophic” health plan. The second part is a special savings account called an HSA. So what is catastrophic coverage? Catastrophic coverage has many definitions, but we will call it coverage that is a high deductible health plan, (HDHP) without the “frills” of copays for drugs and copays for doctor visits. A catastrophic plan should be there to protect you if you need to be hospitalized for sickness, surgery or any other catastrophic event. The high deductible health plan offers protection against unexpected, debilitating financial damage.

The terminology is rather confusing. People commonly refer to both parts as an HSA or Health Savings Account. The proper way to refer to such a plan is to say you have an HDHP and an HSA combination. As you can see, this is too cumbersome, so we call in an HSA type plan.

We talked about the first part, the HDHP catastrophic plan. Now, let s (more...)

It is important to compare car insurance no matter what kind of car you drive or what kind of driver you may be. Different insurance companies will offer different incentives, penalties, and discounts. Shopping around could save you hundreds each year.

There are many sites online that will compare car insurance for you. All you have to do is plug in your make, model, and other pertinent information. Then the premium for several top insurance companies will show up for you. Some services will even offer the chance for you to have the companies follow up on your inquiry. It takes all the work out of finding insurance.

While knowing the premium you will be paying is important, there is much more to consider when you compare car insurance.

1. Take the time to meet your agent. If there are no local agents, you might want to pass on the company. The agent will be your life line if you ever need to make a claim.

2. Do a Google search or internet search of some kind. Look for (more...)