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  • fcreature's Avatar
    09-28-2017, 10:10 AM
    From what I understand, you cannot currently open an HSA without also having a high deductible health insurance plan.
    24 replies | 884 view(s)
  • fcreature's Avatar
    09-27-2017, 07:11 PM
    Not sure I understand the criticism here. Even in their current form, HSAs are a great financial tool. They come with tax benefits, grow over time like any other retirement account, and are actually superior to the 401k in many aspects. If you don't use the money for your health, you can keep it and retire on it. An expansion of HSA's would go a long way. Having a HSA isn't meant to be the solution... it's part of it. It's to be combined with a catastrophic plan / high deductible option. Your HSA should be able to cover any deductibles and regular health expenses, if ever needed. If you are smart with your health and a bit lucky, you get to keep all that wealth rather than flush it down the toilet in premiums. If you are going to lead with "the majority of people in this country are unable to save", well then the only solution is single payer. I'm not sure what the point of that statement is? When people start using cash out of their own HSA for regular expenses instead of "health insurance", what do you think is going to happen to prices? Market forces enter the equation again and they'll be driven down. Your catastrophic / high-deductible plan covers the rest. I do agree with you though. The approach we're taking is convoluted because, like you said, health care costs are the true problem. You can't lower health insurance much unless health care costs are driven down. The HSA approach doesn't solve that by any means, but is a good start in the context of the national discussion we're having right now.
    24 replies | 884 view(s)
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