With more than 34 years of experience in the HSA/Health insurance business, I’m happy to offer my expert and unbiased answer. Although the average deductible has substantially increased over the last 30 years, the popularity of the HSA concept is here…and here to stay.
High Deductible Health Insurance plans (HSA) are very popular for individuals and families that want quality medical coverage from reputable companies, but at a rate they can afford. Even with the passage of the Affordable Care Act (aka Obamacare), the popularity of HSA accounts has increased.
But what about the future of these types of plans? Their popularity is not likely to decrease, since health insurance costs keep increasing, and there is no other type of coverage that can offer a combination of network-negotiated discounts and paying for healthcare, dental, and vision expenses with tax-free dollars.
However, as our political landscape changes, be prepared for unanticipated changes! As we move closer to 2017 and 2018, many legislative changes are planned. These changes could impact the cost of coverage and the amount of federal subsidy that is received. Both the group sector and individual sector could be adversely affected.
So…Expect HSAs to continue to be a popular and “normal” choice to consider for individuals, families, and small and large businesses.
Answer provided by Edward Harris, one of the nation’s premier healthcare authorities. Edward is the owner of majormedicalhealth.com, where consumers can compare the best health insurance rates from top-rated companies.