Consider an HSA during open-enrollment season
Posted
Nov 02 2007, 12:10 PM
by
Karen Datko
Rating:
Many employers are holding open enrollment in health-insurance plans, so it's time to think about your options as the cost of insurance continues to rise. The Sun's Financial Diary, in two excellent and comprehensive posts, explores switching to a high-deductible plan partnered with a health savings account. If your employer doesn't yet offer this combination, and you're unhappy with the available plans, you can pursue it on your own. Sun notes that an HSA allows you to invest pretax money to build savings for future health care and, eventually, retirement spending, but you must be enrolled in a high-deductible plan to start one. (We'll add that for people who don't have health insurance, the lower premiums of a high-deductible plan might put the cost of health insurance within their reach.)
