As people compare health insurance rates to learn which plan would be most affordable for them, a lot of them have considered health savings accounts which for legal reasons must work with a high deductible health plan (HDHP) as a way of getting the very best health cover at the most affordable rate. Do most of us understand HSA? Let's have a closer understand this plan.Exactly like was stated above, a HSA must by law work with a HDHP. A HSA is an account that can help you save interest yielding funds tax free towards the payment of your high deductible. If however no need arises because of this funds in per year, it might be rolled over to the next year. more info have taken this HSA as a sensible way to cut costs tax free. The federal government however has placed a maximum each individual can contribute yearly. This year 2010, every individual can fund the account to a maximum of $3, 050 while a family group can fund their HS account to no more than $6,150.Other limits include out of pocket expenses and deductibles which is placed at $5,950 fofr individuals and $11,900 for families.It's important to also know the minimum deductible that you can operate an HSA. That is $1,200 for for individuals and $2,400 for families.With a HSA, you aren't afraid of not having the ability to pay your high deductibles and since you have a higher deductible, your monthly premium would be suprisingly low. Your HSA earns tax free interest and can continue to roll over every year should you choose have cause to use the funds.The down side to this HSA that everyone who would like to operate it will know is that you are not allowed to utilize funds from this take into account non- health related issues. Doing this this attracts a penalty on the interest earned. However, you may use funds out of this account penalty free for ANY health related expenses even if your insurance company do not provide cover for this expense. Such expenses could include dental expenses, massages, acupuncture therapy and any health treatment or therapy you might desire.Do not fail to compare health insurance rates before settling for an insurer. That is one sure method of obtaining the best deals so far as your medical insurance is concerned. Take more info . Get health insurance quotes from quotes comparison companies and compare health insurance rates.How Do I STRAT TO GET Quotes?Start from these links Affordable Health Insurance [1] and Compare Health Rates [2] Chimerenka Odimba is the publisher of several finance based sites.