WHY I DON’T LIKE HSA’S
HSA’s have been couched as a great way to ‘reform’ the health insurance industry, and they could. My problem with them is the insurance industry prices them too high and they have little 'first dollar' coverage when compared to other high deductible plans.
Most other high deductible plans have some ‘first dollar’ coverage where you can go to the doctor when you get sick, get tested and they will waive the deductible for the first 4-6 visits. For those of us who are healthy, this is great because we rarely go to the doc for anything. So what happens is the price of the HSA is higher than the other high deductible plan. At that point the value of the HSA begins to diminish. Add to that if you cannot afford to pay the premium and fund the deductible amount every year then you have lost the reason to do an HSA.
If you can afford to fund the HSA every year, your healthy, and don’t use the deductible fund , then a HSA is for you. But still you pay more for the insurance than you should!
