Are HSAs and High Deductible Health Plans Right for You?
Are Health Savings Accounts (HSAs) and high deductible plans right for everyone?
According to Dawn Rivers Baker, Editor of the Microenterprise Journal, probably not. HSAs and high deductible healthcare plans are good for those who are in reasonably good health. But they are not good for those with chronic conditions with heavy needs to use their insurance.
Dawn joined me on my radio program this week. We discussed the state of health care in the U.S., including escalating costs for small businesses, tax breaks, and the state of various bills proposed in Congress.
When you consider how HSAs and high deductible plans work, it stands to reason that they are best for relatively healthy people. After all, the money you put into an HSA is money you hope to not have to use for out-of-pocket or deductibles under your insurance policy. For more reading on HSAs and high deductible health insurance policies (the two go hand in hand), read: Is an HSA Right for You?
