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The point was that the premium was lower so you could save the difference and instead of that difference going to waste each year, it could compound over time.
by tathougies 8y ago
The point was that the premium was lower so you could save the difference and instead of that difference going to waste each year, it could compound over time.
- thekingofh 8y agoHSA is spend it or lose it.
- hawaiianbrah 8y agoYou’re thinking of FSAs
- goobynight 8y agoNonono. That's an FSA. You can hold on to your HSA indefinitely and withdraw for medical reimbursement at any time (decades later).
- wyldfire 8y agoYou're mistaken, but it's an easy mistake to make. There's an alphabet soup of FSA/LPFSA/HSA/DCFSA options. An HSA is truly your own savings account, owned by you (just like any other savings account), regardless of where contributions come from.
- lliamander 8y agoActually, that would an FSA. You can hold onto HSAs.
- SilasX 8y agoFrom what I understand, even the HDHPs have such high premiums that the point is not being achieved, especially if you have to go through the marketplace rather than the employer.
- lotsofpulp 8y agoDue to rising healthcare costs, and employers reducing the portion of health insurance premiums that they want to pay for their employee (aka a paycut), that's going to be true regardless of HDHP or not HDHP.
- mrosett 8y agoHSAs aren't use it or lose it. That's FSAs.
- lotsofpulp 8y agotathougies was referring to the difference in monthly health insurance premiums. I don't see what their comment has to do with Flexible Savings Accounts.
- tathougies 8y agoyup!
- mrosett 8y agoI think I may have responded to the wrong comment here. Someone else was saying that HSAs are use-it-or-lose-it.
- tathougies 8y agoI mean, if a HDHP plan costs 400 / mo and a regular plan costs 1000 / mo, you get to save the 600 and let that compound over many years (if you don't use it), rather than lose the 600 in insurance premiums.