Anthem HSA plans explained

1. HSA is a shortened term for Health Savings Account. HSA accounts can be checking accounts and or debit cards. Currently, any payments into a HSA account are tax deductible as health insurance.

2. HSA compatible plans are health and medical insurance plans with a large deductible. High deductible health plans(HDHP) must be "qualified" by the Federal government. The deductibles in the health plan must be paid before the Health plan pays for prescriptions or medical costs. Preventative care such as annual physicals can be paid before the deductible. Your HSA account money can be used to pay for medical bills under your deductible. You can also pay other medical bills not covered by your health plan such as dental bills. This is good.

Anthem Blue Cross HSA compatible medical plans in 2010

Anthem HSA medical and health insurance plans allows you to visit any doctor or provider inside the Anthem network. The Anthem health plans in Connecticut can also allows you to go to doctors outside of the provider network with higher costs to you. These HSA plans includes coverage for prescriptions after the insurance deductible has been paid. You will get discounted prices on prescritions under the deductible. There are 2 deductibles and 2 plans available in 2010. The deductibles are $2,500 and $5,000. Once the deductible has been met, Anthem Blue Cross will either pay 80% or 100% of the medical costs.

If you use a doctor or service within the Anthem network, those services are discounted. For example, a $250 blood tests may only cost you $38. So dont let the high deductible scare you if you are in good health.