Is a health savings account right for me?
HSAs can certainly be helpful for people who do not have a lot of healthcare needs, and have enough money to pay the annual out-of-pocket maximum should something unfortunate happen.
But proceed with caution - the coverage provided by health savings accounts is not as comprehensive as conventional coverage. People who have grown accustomed to having an insurance company pay for most of their claims may be in for a rude awakening. These plans require you to be much more conscious of healthcare costs than most Americans. You must assume a more active role in making your healthcare decisions in order to get the most out of your health savings account.
