Health Savings Accounts

I am thinking that you are talking about what they call here a consumer driven health plan or an HRA. If that is the case they give you a set amount to start off with at the beginning of the year usually $500 for single and $1000-$1500 for family. So when you go to see a doctor you don't have to pay any co-pays. It is a good plan if you don't have any medical problems or have small children. But if you take any medications most plans make you pay for them up front and then it gets processed just like any other perscription but the HRA sends you a check once a month for what you paid but only if you have funds left in the account. Most of these plans have a $1000 deductable. But the plan that I have will put any of the used money from the account towards the deductable. Then when the money is all used up it should pay 80% after the deductable has been met. We have had this type of insurance for 2 years now and it is good. But I don't have small children that you take to the doctor more than you would a teenager. And with the plan I have any unused money from the account will roll over into the next year. The only downfall is that you have to pay for your meds. upfront and that can be quite costly at first but you do get your money back, it just takes a month. When we were offered this type of insurance I wasn't sure which one to pick so I called my insurance man (I knew he sold health insurance also) and explaind to him the choices we had and he explained to me how each one worked and told me that the HRA would be best for me. But now I have to have surgery and it is going to cost more than what we have in the account so now this year will be a real test as to how the plan will work after you use up all your money in the account. I hope this helped you to understand.

NO NO NO NO NO!!!! Avoid HSAs if possible. Read more about then here:
wikipedia.org/wiki/Health_savings_account

They are bad news for consumers. More here:
cmwf.org/usr_doc/hsr_39_4p2_1159_Shearer.pdf

Basically, they are yet another move to benefit the wealthy of the country and shift the burden onto the middle and lower class. While they look good on paper, in actual use, they are poor - worse that HMOs by some user's comments.

I have had a HSA account for 2 years and I hate it.. you can out away tax free $$ but what it boils down to is a High deductable insurance you pay for your meds at the regular cost until you hit the deductable then the insurance kicks in first at 80/20 then 100% you can pay for your appt and meds with the tax free money in the HSA account.. it sucks but if you dont take meds monthly and are healthy it can be good if you do take meds ( i do ) it sucks I never hit the deductable.. ( my job put in the $$ to the account so they were in fact paying my deductable)
if you need more info check out a insurance web site Or PM me I will try to answer what i can..

Here's an idea that may work for you.I know a few people do it down here. Open a business.Set it up out of your home. Just need your license and tax id. Now you just bought yourself a little bit more leverage to insure your family.

Here's more about HSAs:

thinkprogress.org/2006/01/30/the-truth-about-health-savings-accounts/


(On a side note, if you are not a regular, daily visitor to Think Progress, what is wrong with you??? :) )