Health Savings Account (HSA): Useful for Women in Childbearing Years?

Home
>
Insurance
>
Health Savings Account (HSA): Useful for Women in Childbearing Years?

Health Savings Account (HSA): Useful for Women in Childbearing Years?

The Health Savings Account (HSA) is an amazing tool that a lot of people have been talking about. It is meant to help you save money on insurance and make your life simpler, maybe even help you be healthier.

But should a family with a woman in her childbearing years use an HSA?

This is an excellent question!

Obviously, a woman who is pregnant or might likely become pregnant needs to be very aware of her health insurance situation. Taking pre-natal classes, having a hospital delivery, Cesarian sections are all expensive, nevermind any potential complications.

Health Savings Accounts paired with a high-deductible health insurance policy can work for the family who might be expecting. Here's how.

A high-deductible policy means that with a hospital delivery, you'll definitely be paying that first $1,000, $2,500 or $5,000 (depending on the deductible), because the total cost will be that plus more. But after the deductible is satisfied, the insurance will kick in and pay for the rest of the cost.

However, it gets more complicated than that. In order to have maternity covered in a policy, you must buy an additional "insurance rider" for maternity. This rider comes with your insurance policy, not with the HSA. The rider is extremely expensive, it will add hundreds or thousands of dollars to your yearly cost of insurance.

So, if you are going to delivery using a regular hospital delivery, you should definitely purchase the additional maternity rider on your insurance policy. Remember that the high-deductible policy with the maternity rider will still be significantly cheaper than a low-deductible policy with the same rider. So you should still use a high-deductible policy, just add that rider.

But let me present one more option to the lucky parents. Have you considered a midwife, in-home delivery? Many parents are turning to this option. Create a relationship with a midwife or nurse-midwife and consult with her throughout the pregnancy. You might find that is is a safer, more comfortable way to have a child than the hospital environment. Just make sure you do your homework first. Find a midwife who has good qualifications and excellent references. And check the laws in your state. Midwifery is illegal in several states, because the Medical Boards do not appreciate them taking business away from hospitals.

If you rely on a midwife, your overall costs will go down dramatically, but you will not be able to use HSA money to pay a midwife. Also note that the maternity rider on your insurance policy will not help pay for midwifery services. Even with these disadvantages, you might find that your overall cost savings are so great that the midwife is not only the safest, most comfortable option, but also the least expensive.

The Health Savings Account, along with usage of holistic practitioners like midwives, will change healthcare in America forever. Be a part of the future of healthcare! HSAs are available today!

Daryl Kulak is the author of the book "Health Insurance Off the Grid." The book provides a simple plan for the self-employed or underinsured to reduce insurance costs using a unique approach you won't find anywhere else. The book is available for sale as an e-Book or paperback at the Website http://www.healthoffthegrid.com

In The News:

Yahoo! News: Top Stories

Obama OKs modest tax changes after seeking ideas (AP)

AP - Pushed by fellow Democrats, President-elect Barack Obama agreed to modest changes in his proposed tax cuts on Friday after inviting lawmakers to "just show me" ideas for fixing an economy shedding jobs at an alarming rate. Democratic congressional officials said that Obama aides came under pressure in closed-door talks to jettison or significantly alter a proposed tax credit for creating jobs.

Ill. House impeaches governor, who vows to fight (AP)

AP - Gov. Rod Blagojevich was impeached Friday by Illinois lawmakers furious that he turned state government into a "freak show," setting the stage for an unprecedented trial in the state Senate that could get him thrown out of office.

Israel and Hamas ignore UN call for cease-fire (AP)

AP - Israeli jets and ground troops hammered at Hamas targets in the Gaza Strip and Islamic militants fired barrages of rockets at southern Israeli cities Friday, ignoring a U.N. resolution calling for an immediate cease-fire after two weeks of combat.

Pastor in gay scandal: I'm back from 'wilderness' (AP)

AP - Speaking out two years after being embroiled in a gay sex scandal, former evangelical pastor Ted Haggard said Friday his sexual identity is complex and can't be put into "stereotypical boxes," but that his relationship with his wife is stronger than ever.

Palin: Is Kennedy getting 'kid glove' treatment? (AP)

AP - She messed up her first interviews, didn't show much of a grasp of the issues and, dontcha know, had a speech pattern that was widely mimicked.

Texas death row inmate pulls out eye, eats it (AP)

AP - A Texas death row inmate with a history of mental problems pulled out his only good eye and told authorities he ate it. Andre Thomas, 25, was arrested for the fatal stabbings of his estranged wife, their young son and her 13-month-old daughter in March 2004. Their hearts also had been ripped out. He was convicted and condemned for the infant's death.

Rare 'dinky' bird migrates to US for first time (AP)

AP - Birders with binoculars and cameras are flocking to a remote state park in search of a small yellow-chested bird that apparently crossed the U.S. border for the first time from its high-mountain habitat to the south.

'Dexter' brother and sister are husband and wife (AP)

AP - They play brother and sister on "Dexter." Now in real life, Michael C. Hall and Jennifer Carpenter are husband and wife. Hall's spokesman, Craig Bankey, said on Friday that the couple eloped in California on New Year's Eve. They'll walk the red carpet together at the Golden Globe Awards on Sunday the first time publicly acknowledging their relationship.

George the lobster gets new lease on life at 140 (AP)

AP - A new lease on life at 140? That's what a Manhattan lobster got Friday, when the 20-pound crustacean named George was released from a swanky Park Avenue restaurant's tank. City Crab and Seafood agreed to a request from People for the Ethical Treatment of Animals to let the lobster return to the Atlantic Ocean.

Stimulant exemptions in baseball on the rise (AP)

AP - Baseball authorized nearly 8 percent of its players to use drugs for ADHD last season, which allowed them to take otherwise banned stimulants. A total of 106 exemptions for banned drugs were given to major leaguers claiming attention deficit hyperactivity disorder from the end of the 2007 season until the end of the 2008 season, according to a report released Friday by the sport's independent drug-testing administrator.

Citi, Morgan Stanley in brokerage talks; Rubin quits (Reuters)

Reuters - Citigroup Inc is in advanced talks to sell its Smith Barney brokerage unit to Morgan Stanley, a person familiar with the matter said on Friday, in a move that would further dismantle the financial supermarket that has been bailed out by the U.S. government.

Illinois House votes to impeach Gov. Blagojevich (Reuters)

Reuters - The Illinois House of Representatives impeached Gov. Rod Blagojevich on Friday for abuse of power, including a charge that he tried to sell President-elect Barack Obama's former U.S. Senate seat.

Israel, Hamas press on with Gaza war (Reuters)

Reuters - Israel pressed on with a punishing Gaza offensive and Hamas sent more rocket salvoes into southern Israeli towns in a two-week-old war that continued to defy international efforts to stop it.

Obama team, Rep. Frank eye bailout fund overhaul (Reuters)

Reuters - President-elect Barack Obama and a key Democratic lawmaker revealed plans on Friday to overhaul the government's $700 billion financial rescue fund as a way to aid struggling homeowners and speed the flow of credit.

Jobless rate at 16-year high as payrolls plunge (Reuters)

Reuters - The unemployment rate surged to the highest in nearly 16 years last month as a deepening year-long recession forced companies to axe more than half a million jobs, government data showed on Friday.

Supreme court to decide voting rights law challenge (Reuters)

Reuters - The U.S. Supreme Court said on Friday it would consider a challenge to a central provision of the 44-year-old voting rights law aimed at preventing states and local governments from making it harder for minorities to vote.

Bank industry slams lawmaker-Citi mortgage deal (Reuters)

Reuters - A top bank industry group said on Friday that it opposes an agreement between Citigroup Inc and Democratic senators that would rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, saying it could make home loans more expensive.

EU seeks to finalize Russian gas monitoring deal (Reuters)

Reuters - The European Union sought to finalize details on Friday of a gas monitoring deal to allow the resumption of gas supplies to Europe via Ukraine, which have been cut off for days over a pricing row.

Defiant Israel presses Gaza offensive as toll passes 800 (AFP)

AFP - Tanks and warplanes pounded Gaza on Friday after Israel defied a truce order from the UN Security Council as the death toll from the two-week-old conflict against Hamas passed 800.

Somali pirates say they have released Saudi supertanker (AFP)

AFP - Somali pirates said Friday they had freed a Saudi-owned supertanker, whose capture nearly two months ago caused panic in international shipping and spurred the world into tougher anti-piracy action.

Health Savings Account (HSA): Useful for Women in Childbearing Years?

Insurance Insurance