If you have no insurance or a high deductible plan then we recommend a Health Savings Account. These are relatively new tools that arrived on the market place in 2003. These are powerful financial tools that have a maximum that you can contribute to every year. If you have no insurance, are not on Medicare, are not a dependent on someone else's tax form or have a high deductible plan then you can have a Health Savings Account.
Minimum Deductible Maximum Out-of-Pocket Contribution Limit 55+ Contribution Single $1,300 $6,550 $3,400 $1,000 Family $2,600 $13,100 $6,750 $1,000
Individuals can have the same plans that large businesses have. Nothing beats knowing that you have money in your account for a co-pay or medicine when you get sick. As your money grows, you have investment opportunities, and when you reach 65 the medical spending limitations go away.
We recommend reading more information at the treasury or consulting a tax expert.