Products: High Deductible Health Insurance
What qualifies as a High Deductible Health Insurance Plan?
For 2007, the federal government defines a high deductible health insurance plan as one with a minimum deductible of $1,100 for self-only coverage, and $2,200 for family coverage. The maximum out-of-pocket expenses for allowed costs must be no more than $5,500 for self-only coverage, and no more than $11,000 for family.
Annual contribution limits for 2007 are capped at either the high deductible plan deductible or $2,850 for individual or $5,650 for family - whichever amount is less. Additional catch-up contributions apply for participants age 55 and over by the end of their taxable year and have not enrolled in Medicare: $800.
Need help determining if a high deductible health insurance policy and Health Savings Account is right for you?
Obtain more information and a free quote for various insurance plans available through Tam Hubert in the First Minnetonka Investment Center at http://tamarahubert.mymedicalquotes.com or contact First Minnetonka City Bank for more information about Health Savings Accounts.
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