It’s certain that the next few years will see some significant changes in the American health insurance system. With price fluctuations and carriers coming in and out of the market, it’s been difficult for families to budget. Currently, there is one program that will help you reduce monthly fees and get a tax break: Health Savings Account (HSA). Here’s what you need to know about HSAs, and how they’re changing in 2017. Continue reading “Health Savings Accounts in 2017 — Your Questions Answered”
The trend toward employers offering high-deductible health plans (HDHP) — and no other option — seems here to stay, like it or not. HDHP coverage is growing at a 15% pace, annually. In 2005, such plans covered 1 million people. Now, they cover more than 15 million, including 10% of those in Connecticut who are under 65 and have private insurance.
Some consumers fear a HDHP because they worry about being on the hook for that deductible, should they need significant medical care. The silver lining, though, is the ability to pair an HDHP with a tax-advantaged Health Savings Account (HSA).