Health Savings Accounts (HSA): How Do I Tell a Good One from a Bad One?

The Health Savings Account (HSA) is becoming well-known as an incredible tool to reduce health insurance premuims and yet provide good security for healthcare emergencies.

But what should consumers watch out for? Are there good HSAs and bad HSAs?

The answer is "not really." All HSAs are made to be quite similar, by federal law. They must conform to the national standards.

However, there are some subtlies that differentiate HSAs as, not good or bad, but maybe good and better.

The first thing to ask about an HSA is about the fees that the HSA custodian charges. Find out all the fees, including setup fee and annual fees. It is reasonable to pay a small setup fee ($25 or more) but I would not expect an annual fee to be charged.

Your next question should be directed towards the investment options. Many HSAs offer only a "money market" type of account. This is really not desirable. The best option for investing your HSA money (which could become quite substantial if you do not use it up year-after-year) is in a low-risk mutual fund. My suggestion is to invest the HSA money in a government bond fund or a corporate bond fund. These funds often make more than 5% gains in a year, but they do not suffer the dramatic ups and downs of stock mutual funds.

You do not want an HSA to be jumping up and down in value, because it might not be there when you really need it. And you never know when that will be.

You might also want to compare your comfort level between a local insurance agent versus an HSA Website. For me personally, I prefer a local agent who I can talk to and see in her office. An HSA Website makes me a little nervous. I probably wouldn't put my money into an Internet bank for the same reason.

Health Savings Accounts (HSA) are here to stay, and they are going to change healthcare as we know it. Be part of the future! HSAs are available today!

Daryl Kulak is the author of the book "Health Insurance Off the Grid - A Wonderful Way to Use Alternative Medicine and Save Money on Insurance Using the New Health Savings Account (HSA)." The book provides a nine-step plan to get your self-employed or small business health insurance costs under control using a unique approach you won't find anywhere else. The book is available for sale as an e-Book or paperback at the Website http://www.healthoffthegrid.com

---

Health Insurance Quotes Online - Tips On Finding a Good Provider

Since 2001, major health insurance providers have been allowing consumers... Read More

Inexpensive Life Insurance To Protect What You?ve Earned

Adequate life insurance to cover your income producing ability is... Read More

Car Insurance Quotes Online ? Why You Should Use the Internet to Find a New Insurance Company

Before the internet, you picked a neighborhood car insurance agent,... Read More

Shopping Options for Auto Insurance

Shopping for car insurance can be a big undertaking. It... Read More

How to Shop for Individual Health Insurance

If you find yourself in the position of shopping for... Read More

Long Term Care Insurance

Long Term Care Insurance is needed in the event that... Read More

Know Your Own Worth: A Practical Insight Into Covering Up

Almost anything can be insured these days: breasts, legs, your... Read More

Why Dont Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a bet actually.You are betting... Read More

The Awful Truth about Annuity and Insurance Leads

You see the websites, you see the ads: exclusive, never... Read More

Insurance and The Engineer

The world is no longer right when the two words,... Read More

Cheap Insurance - Ten Ways

Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance... Read More

Insurance for Those Who Run Bed and Breakfast Properties

A Bed and Breakfast, often referred to as a B&B,... Read More

Mortgage Insurance Plans: How Good Is Yours?

Mortgage insurance, to pay off a mortgage, is something you'll... Read More

Eleven Money-Saving Auto Insurance Tips for Senior Drivers

Following a few simple tips and taking these measures will... Read More

Term Or Whole Life Insurance - Which Is Right For You?

One of the most important things you will ever do... Read More

Life Insurance Settlement

A new financial tool is now available for senior citizens.... Read More

Whole Life Insurance - Whole Life Insurance Information

The original purpose of life insurance was to provide for... Read More

Home Insurance Terms

Home insurance, or even homeowners insurance, is an insurance policy... Read More

How to Reduce Car Insurance Premiums

Here are some useful tips on how to reduce car... Read More

Choosing the Best Life Insurance Option for You

Life insurance in the UK is becoming more and more... Read More

Bankers Long Term Care Insurance

How many times have you seen people whose life was... Read More

MSA or HSA: Can I Keep My MSA Or Do I Need to Convert it into an HSA?

The Medical Savings Account (MSA) is an older form of... Read More

Consumer Directed Health Plans

Most of you have heard about "consumer directed health plans".... Read More

Health and Dental Insurance Quotes - Applying Online

Since 2001, large health and dental insurance companies such as... Read More

Sisters Are Insuring Themselves: Finance is the New Feminism

According to a study by LifeSearch, the number of women... Read More

Discount Auto Insurance - Keep Your Hard-Earned Money

Finding discount auto insurance is so easy when you do... Read More

Insurance Claim: Collecting Your Lost Wages

A couple months ago you were toolin' on down the... Read More

I Was In An Accident, Will My Car Insurance Rates Go Up?

You were on the phone, got distracted and before you... Read More

UK House Insurance - The Risk of Under-insurance

For many years in the UK, motor insurance has been... Read More

Why Bother With Farmers Auto Insurance?

Farmers auto insurance is a very large insurance company that... Read More

Life Settlement Overview

A "Life Settlement" is a lump sum settlement paid to... Read More

Business Insurance; Information you will need

When you start a small business you will need to... Read More

How to Reduce Home Insurance Premiums

Here are some useful tips on how to reduce Home... Read More