For all those Americans looking to put more money in their pockets and give less money to health insurers, a Health Savings Account is the plan for you. You pay a lower premium, and put the cash that would have been going to an insurer in a tax-free account with your name on it. You own the money, which you spend tax-free to meet your health insurance deductible. HSAs, which have been around since 2004, and have grown by 31 percent from 2007 to 2008. Eight million Americans now have an HSA.
In a shocker poll, there is a health care plan that nearly three quarters of those using them would recommend to their friends and families: it is an Health Savings Account.
84 percent of HSA owners say more Americans should be able to have an HSA.
91 percent say HSAs should remain an option for all Americans.
About 80% of the survey participants said the ability to save for future health care expenses is the primary reason for using an HSA.
For those who do not believe Medicare will be in the same shape it is in now, mainly because of the baby-boomers who are beginning to hit the system, then perhaps sending less cash to insurers and keeping some of it for your future health care expenses is a good idea.
