Why an HSA health plan is better than a Copay plan

Why is a Health Savings Account health insurance plan better than a copay plan?

An HSA is a better plan if you’re focused on your out of pocket maximum. If so, an HSA cannot be beat. The reason is because you have a defined out of pocket maximum. With your typical PPO Copay plan, you’ll have a deductible, 80/20 coinsurance, plus doctor copays, Rx deductible and Rx copays. But, COPAYS are sometimes forever. Let’s imagine a broken back, surgery, pain meds and 3 X a week physical therapy for 6 months. Copays will rack up over $400/mo or more, they rarely go towards the deductible. But, with the HSA health plan, you pay your deductible, and everything else is covered 100% including those physical therapy appointments, MRI’s, and medications. Oh, by the way, the entire deductible is tax deductible up to IRS limits

Our health care system is broken because people became addicted to copays for doctors and Rx. I can’t name one other professional I can hire for $30, but for some reason, everyone expects it. Everyone also expects to have “insurance” pay for all the small things, but that’s not the definition of insurance which is to remove your biggest risks for the smallest cost.

I would hate to think what my car insurance would be if I expected $5 oil changes, tire rotations, and door dings fixed for $30.

Contact a local broker at www.NAHU.org to help determine if an HSA health plan is right for you.  Then visit HSA Consumer to learn how to leverage your Health Savings Account correctly.

Leave a Reply

Your email address will not be published. Required fields are marked *