Should I be concerned about a high deductible health plan that doesn't cover an office visit co-pay?

Your monthly premium for an HDHP will be lower than it is for a traditional health plan. By using some of the premium savings to regularly fund your HSA with even modest amounts, you can easily cover the occasional expense for a routine office visit.

If your average number of office visits is three per year at a price of $50 each after PPO network pricing your cost comes to just $150 per year. But funding an HSA with just $ 30 per month, you would have $360 per year to cover these and other eligible expenses…tax free!

Other than the monthly premium savings, Why should I switch from my traditional plan?

The premium savings you achieve through an HSA qualified plan should be viewed as a long term strategy to fully realize the financial benefits of a HDHP (High Deductible Health Plan) with HSA , you have to look beyond your first year on the plan.

Health plans that drive utilization are often the plans that have the largest increases. The premium Increases you will experience for an HDHP at the time of renewal is often considerably less than the renewal increase for a traditional health plan.

An HDHP is designed to save you premium dollars while empowering you to take charge of your health care spending.

Is an HSA complicated?

An HSA-qualified health plan is actually one of the simplest in the market place.

As your qualified HSA custodian, Design Benefits will help demystify the HSA for you. Recognized as an HSA expert, we can provide no - hassle assistance in establishing your HSA, and can provide you with the information you need to make the most of your account.

Is it true that a high- deductible health plan will leave me with more financial exposure than my traditional major medical plan?

Let's take a hard look at "real" exposure by weighing factors such as premium savings, deductibles, co pays, out of pocket maximums and tax implications to determine the actual financial exposure you face with a traditional medical plan.

Many traditional plans have a deductible of $1,500 plus $2000 out-of-pocket costs. Compare the cost of the plan against the HSA-qualified plan with $3,500 deductible and 100% co-insurance. You may be surprised with the results.

Is the federal government is going to eliminate HSA's?

According to data from a February 2009 report compiled by Design Benefits HSA Administrators, the number of people with HSA - qualified HDHPs rose to 6.1 million in January 2008, up from 4.5 million in January 2007 and 3.2 million in January 2006.

These figures indicate that sales of these plans continue to rise.

The more lives that are covered, the less likely it will be for the government to consider significant adjustments to HSA or to eliminate them altogether.

Congress ultimately determines the fate of consumer - directed health plans and health care reform. Sweeping changes will require both Republican and Democratic support. In the meantime, you owe it to yourself and your pocketbook to secure the best plan for you, your family and your financial situation today.

A final note: It is advised that you always consult your personal tax advisor regarding the tax implications of an HSA.