Make Smart Financial Health Insurance Decisions

Make Smart Financial Health Insurance Decisions

The older you get, the higher your health insurance and other health care costs usually are. So, you have to be smart about moving money around for insurance, co-pays and other health care costs.
If you have an employer, ask about a Health Savings Account (HSA). These accounts use money that comes out of your pay before taxes, and my even include contributions from your employer. You can use the money to pay for health care costs through the year.
If you’re self-employed and pay high insurance premiums, you can deduct those premiums from your income and may be eligible for an HSA. If you don’t use the money in your HSA before you retire, you can then withdraw it and pay the taxes on it.