4Real Forums: Health Savings Account

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Topic: Health Savings Account

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J.Anne
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Joined: Oct 24 2006
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Posted: Aug 03 2007 at 4:22pm \| IP Logged

Does anyone know anything about these? We are trying to cut our health insurance costs (outrageous!). I've read great things about HSAs but I am having a hard time figuring it all out.

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Jennifer
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PDyer
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Joined: Feb 25 2005
Location: Ohio
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Posted: Aug 03 2007 at 6:38pm \| IP Logged

Funny you brought this up. My husband and his partners met with their insurance broker this week and found out their medical insurance premium rates are scheduled to increase 20% this coming year.

. They are strongly considering combining a high-deductible insurance program with an HSA at his company because insurance is just SO expensive.

He's talking about paying the premiums on the high deductible policy and contribute the savings compared to his current insurance program in employees' health savings accounts. I think employees could contribute to the HSAs as well.

We just can't afford to pay 100% of his employees' medical insurance premiums anymore. He's really quite upset about it, as he really wanted to continue to offer that benefit to his staff.

I googled health savings accounts and came up with this:

Treasury Department brochure on HSAs

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Patty
Mom of ds (7/96) and dd (9/01) and two angels (8/95 and 6/08)
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J.Anne
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Posted: Aug 03 2007 at 6:50pm \| IP Logged

Thank you Patty. My husband's company stopped contributing to family insurance a few years ago. Our insurance is already high deductible, so it seems like this would be an obvious solution. I salute your husband and his company. He might be the last person out there still offering those benefits.

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Jennifer
http://ascozyasspring.typepad.com

PDyer
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Joined: Feb 25 2005
Location: Ohio
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Posted: Aug 03 2007 at 7:02pm \| IP Logged

J.Anne wrote:

Thank you Patty. My husband's company stopped contributing to family insurance a few years ago.

Thank you, but I just want to be clear...they have been paying only for the employees' coverage at 100%, not the employees' families as well. He would love to be able to do that, but...

He's been amazed at the premium increases over the past few years...the people who work there are a pretty healthy lot, but the rates keep going up and up. And they don't want to change carriers all the time either. Ugh, what a mess...

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Patty
Mom of ds (7/96) and dd (9/01) and two angels (8/95 and 6/08)
Life at Home

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