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I'm self-employed, so I get insurance through the marketplace. The plans that qualify for use with an HSA are more expensive than plans that are not legally HDH
by jetrink 7y ago
I'm self-employed, so I get insurance through the marketplace. The plans that qualify for use with an HSA are more expensive than plans that are not legally HDHPs, but just happen to have a $6000 deductible and $7900 max out of pocket. They are so much more expensive, in fact, that they completely negate the tax advantages (which are significant.) As a result, I contribute to a basic savings account instead of an HSA, but I could see many people hoping for the best and not saving at all.
- EvanAnderson 7y agoThis has been my experience, too. I've been self-employed since 2004 and had an HDHP w/ an HSA prior to the ACA. The premiums from 2004 to 2014 were lower than equivalent non-HDHP's, but post-ACA (we dumped our pre-ACA plan because I had a pre-existing condition that was not covered in our pre-ACA plan) we've seen equal or high premiums for HSA-capable HDHP's to non-HSA-capable plans.