Claim Your Tax-Deductible Healthcare Account

Dear Money & Crisis Reader,

A few weeks ago, I had the opportunity to read an advance copy of Jud Anglin’s new book The Big Book of Healthcare Secrets.

This is an enormous tomb full of cost-saving healthcare secrets and strategies I’ve never even heard of. Seriously, I was blown away by how much I don’t know about all the loopholes in our broken healthcare system.

Jud’s book inspired this week’s deep dive into healthcare alternatives. So of course, I had to ask him to come in and share some of his secrets firsthand.

Today he shares what he calls the “first-step” to more affordable healthcare.

All the best,

Owen Sullivan

Owen Sullivan
Editor, Money & Crisis

P.S. Click here if you want to snag all 132 of Jud’s healthcare secrets.


Claim Your Tax-Deductible Healthcare Savings Account


Jud AnglinIf you don’t already have one, you should set up a health savings account (HSA) as soon as possible.

An HSA is simply a special savings account for medical expenses… but it offers some considerable benefits when it comes to buying healthcare.

You can use the funds in your HSA account to pay for your deductibles, copayments and other medical expenses.

And all contributions to this account are 100% tax deductible from gross income.

With an HSA, you can rest easy knowing that you’ll never lose access to your doctor because they’re no longer part of your health network.

And you won’t have to ever worry about getting denied coverage because of your plan’s limitations.

Essentially, HSAs put control of your healthcare dollars back where it belongs… in your hands.

To be eligible for an HSA, you must have a high-deductible health plan (the deductible is the amount that you have to pay out of your own pocket before insurance kicks in.)

For an individual, the deductible has to be $1,350 or higher. And for a family plan, the deductible has to be $2,700 or higher.

If you are currently enrolled in Medicare, you are not eligible. But, as Jae W. Oh points out in his book, Maximizing Your Medicare, “A little-known fact is that funds in an HSA can be used for your Medicare Part B premium.”

By owning a high-deductible policy, you save big money on your monthly premiums.

Your out-of-pocket expenses will be higher, but you can use the tax-free funds from your HSA to pay for smaller, out-of-pocket health care expenses, like doctor visits for the common flu, prescribed medication and even dental and vision care.

Unfortunately, HSAs no longer cover over-the-counter meds like Tylenol and medical supplies.

The most cost-effective health care strategy for the highest-quality care is a high-deductible plan with either an employee-provided HSR (this is simply an HSA that is offered by an employer) or an individual/family HSA account.

With either combination, you will be saving approximately 15% on your monthly premiums while accumulating tax-deferred health care dollars in your HSA.

As of 2018, you can make tax-deferred contributions of up to $3,450 for individual coverage and up to $6,900 for family coverage.

Editor’s note: You’ve been there before… You go the doctor because you’re sick, they run some tests, give you a prescription…

Then you get a bill for WAY more than you expected! But what choice do you have but to pay up?

You actually have more choices than you know… Click here to find out more.

Chris Campbell

Written By Owen Sullivan

Owen Sullivan isn’t a millionaire or one of the Wall Street elite. He was just one of the many folks who was hit hard when the housing bubble burst… and decided he was never going to let that happen again. Since then, he’s worked with industry experts to develop strategies and techniques to bulletproof his finances — and yours — against the next crisis. His methods don’t require years of financial experience. These are simple strategies that anyone can follow. After all, financial prepping shouldn’t be reserved for a select few.