rates (such as from interest or investment appreciation) is also tax free, so it grows fast. Some employers even contribute extra matching cash to the plan to encouJenny Thomas heaved a sigh of relief. A month ago she checked into her local hospital to deliver her first child, but unanticipated complications necessitated an emergency surgery. Fortunately both she and the baby were fine. But if it hadn’t been for her family’s health savings account (HSA), she could have ended up owing the hospital tens of thousands of dollars.

An HSA is smart savings plan that you use for unanticipated medical expenses. Usually, money that you sock away into the plan comes out of your paycheck before payroll taxes are computed, so that you maximize your savings rate. Furthermore, any income that the HAS plan itself generates (such as from interest or investment appreciation) is also tax free, so it grows fast. Some employers even contribute extra matching cash to the plan to encour

mergency surgery. Fortunately both she and the baby were fine. But if it hadn’t been for her family’s health savings account (HSA), she could have ended up owing the hospital tens of thousands of dollars.

An HSA is smart savings plan that you use for unanticipated medical expenses. Usually, money that you sock away into the plan comes out of your paycheck before payroll taxes are computed, so that you maximize your savings rate. Furthermore, any income that the HAS plan itself generates (such as from interest or investment appreciation) is also tax free, so it grows fast. Some employers even contribute extra matching cash to the plan to encou

e hospital tens of thousands of dollars.

An HSA is smart savings plan that you use for unanticipated medical expenses. Usually, money that you sock away into the plan comes out of your paycheck before payroll taxes are computed, so that you maximize your savings rate. Furthermore, any income that the HAS plan itself generates (such as from interest or investment appreciation) is also tax free, so it grows fast. Some employers even contribute extra matching cash to the plan to encou

the plan comes out of your paycheck before payroll taxes are computed, so that you maximize your savings rate. Furthermore, any income that the HAS plan itself generates (such as from interest or investment appreciation) is also tax free, so it grows fast. Some employers even contribute extra matching cash to the plan to encourates (such as from interest or investment appreciation) is also tax free, so it grows fast. Some employers even contribute extra matching cash to the plan to encourage you to save.

In most parts of the country, to be eligible for an HSA you also need to hold a High-Deductible Health Plan (HDHP). An HDHP is a plan where the deductible – that is the amount that you pay out of pocket, before the insurance “kicks in” is somewhat higher that what you might have seen before: usually in the neighborhood of $2000 to $3000. The big idea behind the HSA/HDHP combo is that the premiums on the high-deductible plan are so much lower that even though you pay the first couple of thousand “out-of-pocket” – actually out of your HSA – you save money in the long run over a traditional plan.

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