Yes - you have to be enrolled in a high deductible health insurance plan to qualify. Most companies offer an HSA plan of some sort - my plan has a $3,000 deductible (family) except for preventive care. After that all costs are covered 100% including prescriptions.
You contribute pre-tax dollars into your health savings account. The max for 2018 is $6,900 husband and spouse. Let's say we max out our deductible. We can roll the remainder ($3,900) to the following year. At the same time, you can invest this money like your assets in a 401k and take it with you when you leave the company.
You can roll it over indefinitely into retirement. I know one of my biggest concerns about whether I'll have enough money in retirement is the cost of health care. Wouldn't it be nice to have a nest egg of non-taxed money to use in retirement? As long as the balance is used on health care, the contributions and earnings are tax exempt.
What am I missing, guys? Why isn't everyone jumping on this bandwagon? I've got people at my work arguing with me about it. They say I should go with the PPO and have a $30 copay and $1,500 max out of pocket.
Submitted October 27, 2017 at 01:19PM by Yarntopia http://ift.tt/2yac6kc
