HSA Accounts

[Lars1985]

Ok so I just started working after graduating and I am trying to get my life in order and one of those things is to have my money start working for me.

I started working in the summer and signed up for a PPO at the time. I hardly ever use a PPO as I am hardly going to the doctor. The main reason for this is because I am healthy, but also because I hardly have any time off work to go.

Well we are moving to an all High Deductible Plan with an HSA. To be honest the HSA does not sound so bad in my case, but I do think they are bullcrap. The big reasons for this is that people will defer going to the doctor for preventive out of pocket costs in order to not use their HSA accounts and then suffer in the end.

Anyways through our company I can sign up for a bank account, but the fees are around 20 bucks a month.

My own bank (Wells Fargo) charges $4 bucks a month.

I have tried researching HSA banks with no success. I guess the Wells Fargo HSA would be best option.

What do you guys do for your HSA/High Deductible plans? This crap is too **** confusing.

 

[chak1080]

HSA accounts can be great, especially if you have high deductable health insurance. I too currently have a high deductable insurance, and a HSA account. Luckily my employer deposits quarterly into the HSA account, to help offset the deductable. The HSA account I have is through Principal Financial. I had no choice which bank to use, since my work set it up for me. But so far it has worked. One thing to consider that might be common with all HSAs. Once I had enough in my HSA to cover my deductable I was able to invest the remaining money from the HSA. In turn making up for the fees associated with the HSA. The fees I’ve had to pay were very minimal. I think I pay five bucks every 2 months, or quarterly for the use of the debit card on the account. With HSAs you don't lose your money at year end and contributions are pre-tax.