The Psychology of an HSA Plan
Not everyone who qualifies
for an HSA plan is pre-disposed to enroll in one. After all, an HSA requires a new way of thinking about an old
problem—funding one’s health care program. With an HSA, tThere are no co-pays for routine expenses such as those available in
most group plans, and the “deductible” mechanism certainly is higher than
what is found on traditional plans.
We believe these traits to
be common amongst people who are happy with their HSA. It may be helpful to review the list before enrolling in an HSA plan.
► A desire to pay lower health insurance
premiums
► A desire to reduce federal income taxes
► The willingness to assume the risk inherent
with a higher “deductible” amount (Your "compensation" for assuming the risk is the mooney you save in lower premiums & lower taxes.)
► The discipline to fund the savings account
instead of over-paying for traditional health insurance
► The ability to sleep at night without any
“co-pays” for little bills (this may be a bigger deal than you think, given that many people would rather pay higher premiums to have lower deductibles and co-pays)
► An interest
in saving additional tax-sheltered money toward retirement
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