Health Savings Account


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Dec 27, 2008
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Belleville, IL, USA
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We're looking into health insurance options. We're getting quotes from a company associated with PPA. He mentioned using a Health Savings account, and I'm wondering if anyone else is using this option? Anyone else have any input on great plans?
With my employer's options, I took the HSA route but it requires a high-deductible health plan. Funds you put into the HSA can be used to cover the deductible, but mine is $1500. Naturally, had to go through a lot shortly after I got the HSA/HDHP so had to suck up $1000 before I could recoup the funds into my HSA. With mine, nothing is covered until the deductible is met.

You are also responsible for saving all of your receipts and taking care of the tax stuff at the end of the year.
Hi, I'm MikeBCos's wife. I've had an HSA with a HDHP for the past three years. I love it. Every penny I put into it is pre-tax, plus the money never goes away, even if you change jobs! It can be used for all health-related expenses, even deductibles & copays of others within your household (even if they aren't on your health insurance plan).

That said, I've had some pretty expensive diagnoses and procedures (cancer and the attendant treatments/surgeries) and it's cost quite a bit, but I'd rather have the HDHP and the HSA than a standard plan because of the tax break and the carry-over of the funds.

The IRS has a form on their website that tells what you can use the money for. Also, if you have an FSA at the same time, you can only use the FSA for dental and vision, saving the HSA for medical only.

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