Health Insurance Product Reviews (BETA)
Major Carriers and High Deductible Health Plans

Vimo Editorial: Health Plan Profile

As affordable health insurance plans go, the Lumenos HSA is exactly kind of plan that more Americans should be signing up for because it’s custom built for use with a Health Savings Account (HSA). While many people complain about the rising costs of insurance premiums, a plan like this really makes healthcare affordable again. Lumenos HSA has been available in California since 2007

The Lumenos HSA 1500/100% features a deductible of $1500 and coinsurance of 70%, with an out-of-pocket maximum of $1500 for in-network services. This means that after you've burned through your deductible, the plan will pay 100% of covered expenses until you've reached your OOPM of $1500. You'd use money from your HSA to pay for expenses up to your deductible amount. Coinsurance for preventive care is 100%.

In 2007, American individuals were allowed to make $2,850 worth of pre-tax contributions per year to an HSA. When you add that money to the premiums you would pay for this plan, and factor in the tax savings you'll enjoy putting pre-tax money into the HSA, you should find the Lumenos plan makes real economic sense.

Lumenos also offers an online health assessment designed to help you measure your overall health; personalized health coach programs; smoking cessation and weight management programs; a 24-hour nurse advice line; and an online health site that includes network provider listings, hospital quality ratings and prescription drug costs.

PROS: A plan custom-built for use with HSAs. When you sign up for Lumenos, you'll also be put through the process of creating an HSA – which means less confusion and work for you. You have the option of selecting your own financial institution, however, if you don't like the one attached to the plan.

CONS: Like most HSA-powered plans, this doesn't offer drug benefits, although you are given the discounts on drugs that this PPO has negotiated with providers.

BEST FOR: Anyone who wants an HSA-powered plan, but doesn't want to go through the confusion of setting up an account. Lumenos makes the process as easy as joining any insurance plan.