Lumenos Health Savings Accounts
Many Californians are reluctant to commit to comprehensive insurance plans, despite the security they offer, because they are worried about premiums that they will not recover if they stay in good health. Lumenos Health Savings Accounts provide an alternative to conventional insurance plans. Instead of paying monthly premiums, account holders pay into a tax-free fund which earns interest, and money in this fund can be used for medical expenses exclusively. Upon retirement, HSA account holders receive any unused funds.
Lumenos Health Incentive Accounts
Health savings accounts provide one way to enjoy more affordable medical services, but there are also Lumenos Health Incentive Accounts which provide a slightly different system. Account holders are rewarded for healthy lifestyle choices by their insurance provider, with funds paid into a special account. These can be used towards covering medical expenses. This provides a similar flexibility to Health Savings Accounts. The only difference is that it is the insurance company rather than the account holder who is making the financial contributions.