Healthy NY Adds HSA Option in 2007

Healthy NY, a state-funded health coverage program available in New York, will begin offering HSA plan options in 2007. This change is designed to make coverage more affordable for the working families targeted by the program. According to the Syracuse Post-Standard, premium rates for the high-deductible HSA plan options could be as much as 25% lower than premium rates for standard plans. However, as with all high-deductible plans, the out-of-pocket costs could be prohibitively high if a plan member falls ill during the course of the year.