Health Savings Account or Traditional Health Plan?

Your Information
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HSA Information
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HDHP Information
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Traditional Information
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Assumptions
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Health Savings Account (HSA) vs Traditional Health Plan
Annual Cost of HDHP vs Traditional Health Plan
Plan Annual Cost
HDHP Qualified Plan
Traditional Health Plan
Health Savings Accounts (HSA) offer an opportunity for you to build tax-free savings to pay for current and future qualified medical expenses. Used in conjunction with a High Deductible Health Plan (HDHP) a high-deductible plan may cost less overall than making monthly premium payments to a traditional health plan and making co-payments when you require medical care. If you use the HSA/HDHP method, you will pay some of the initial medical costs out of your HSA, up until you meet your HDHP deductible. A traditional health plan would pay for most of those up front, after a more modest deductible. Which method is best for you depends on your medical care needs and the HSA/HDHP and Traditional Plan options available to you.