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How to Buy Health Insurance - Health Savings Accounts

How could an HSA help me save for retirement?

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eHealthInsurance
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eHealth, Inc. is the parent company of eHealthInsurance Services Inc., the leading online source of health insurance for individuals, families and small businesses. eHealthInsurance presents complex health insurance information in an objective, user-friendly format, enabling the research, analysis, comparison and purchase of health insurance products that best meet consumers' needs.

Licensed to market and sell health insurance in all 50 states and the District of Columbia, eHealthInsurance has developed partnerships with more than 160 health insurance companies, offering more than 7,000 health insurance products online.

The company's technology platform is able to communicate electronically with insurance carrier partners, which enables a simpler, more streamlined health insurance application process. This technical connection with the back-office processes of health insurance companies can facilitate rapid approval of applications and real-time communication between carrier and consumer throughout the process.

eHealthInsurance provides consumers with transparency of information about a broad array of health insurance plans with a selection of price and benefit options, complemented by a full-service Customer Care Center of highly trained customer service representatives. Available via a toll free number, online chat, email or fax, the Customer Care team answers consumer questions throughout the process of buying and using health insurance.

eHealthInsurance was founded in 1997 and its technology was responsible for the nation's first Internet-based sale of a health insurance policy. We are headquartered in Mountain View, California.

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How could an HSA help me save for retirement?

In this video series, Bob Hurley from eHealth Insurance explains how to use a Health Savings Account.

This expert: 70,400 views

This series: 13,681 views

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Host: How could an HSA help me save for retirement? Bob Hurley: Health Savings Accounts are a very good vehicle to help you save money for your retirement. The whole idea behind these accounts is that you are going to have a Higher Deductible Health Insurance Plan which is going to reduce the amount of your monthly premium that you are sending off to the Health Insurance Company and then you are going to send some of that money into your savings account. In that, that account remember has significant tax advantages, it's tax-free going in, it's tax-free as it grows and if you need it, you can pull it up for healthcare related expenses tax-free. So it's a very powerful savings vehicle and so if you are putting money into that account for 10 or 15 or 20 years, you are going to have some very nice cash accumulation if you are somebody that's fairly healthy that hasn't had to utilize a lot of care and pull money out of that account.Now as you move in your retirement that account is going to go with you. If you own it, you own that money and so once you hit retirement you can keep it set up as a Healthcare Funding Account and use it for healthcare related expenses not covered by Medicare or you can actually pull that money out and use it for whatever you need it for and simply pay whatever the prevailing tax rate it is at that time. So it's a very, very good savings vehicle for retirement, has a lot of flexibility certainly, primarily, flexibility towards your healthcare related expenses but then a lot more broader flexibility after you hit your Medicare age.

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