HSA’s are likely going to be a big part of the health insurance program on which Congress finally settles. Yet folks who have been offered these plans have shied away from them, even when they are the best plan offered by their employers. No matter how much time we’ve taken to explain them, people are just afraid of them. It’s the unknown.
But no matter which plan you choose that your employer offers, you are going to be putting out lots of cash for your medical care each year.
Why don’t folks see that an HSA could allow you to keep some of that money?
A good PPO plan offers a co-pay, an insurance premium, and a ever larger deductibles. You will likely have some of this money contributed by your employer. Wouldn’t you like to keep some of that? Allow it to roll over to increase what you have next year for first dollar expenses?
There are tax advantages as well, but most folks don’t think about taxes when they are dealing with health insurance coverage. They just don’t see that bigger picture. We will be exploring HSA’s in great detail in future posts, to help you understand the advantages of these programs.