Health Savings Accounts – Insurance Plan

Q. My employer just switched to a Health Savings Account plan for our insurance. How does this work? It seems so expensive.

A. The Health Savings Account is a fairly recent concept delivered by Congress. The attempt is to get away from the entitlement mentality to more of an ownership mentality. Under the standard insurance plan concept, you pay the first $500 or so in medical costs as your deductible and then get transferred to a $20 copayment each time you visit the doc. Some plans allow regular medical visits at $20 without any deductible. This type of thinking leads people to go to the doctor for every little Read more »