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Five Downsides Of HSA

Five Not-So Secret Downsides Of HSA Health Savings Account Revealed

By highdeductiblehealthplan.org

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Looking to sign up?

Are you looking to sign up for a tax-advantaged HSA? At your job or like an individual?

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The benefits sure sound appealing.

The benefits sure sound appealing. Who wouldn't want to cover for healthcare expenses with pre-tax money, or compound

the financial savings tax-free?!

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However,

Stop!

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Check out "five" key disadvantages!

This is a quick overview of "five"

not-so-secret key disadvantages of

HSA, and you may not know the full degree of many of them.

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1) Fines of 20%

1) Fines for early distribution: getting higher!

This past year 10%, this current year 20%. What will they be in five years?

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2) Bank charges

2) Bank charges: at $3/month, you will pay nearly

$2,000 over a fifty year time span in bank charges alone.

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3) Restricted availability of funds

3) Restricted availability of funds: Funds turn

out to be extremely immobile. Who wishes to pay out 20% in fees and penalties upfront plus any private net income taxes at up to

35%, a total of 55%?

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4) Restricted investment options

4) Restricted investment options: "Spend what you will need on medicine and invest the rest" sounds good. But most banks

provide sub-par investment options ("to safeguard you from yourself"?)

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5) High actual inflation

5) High actual inflation: Even though the feds report 3% inflation, your wallet and ShadowStats.com knows best. The realistic

inflation in the States is more than ten percent. Each and every $10,000 you keep in a HSA, you'll lose $1,000 each year.

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What are the alternatives?

So what are the alternatives? Should you

figure out how you can invest money for a lot more than 1-2% annually, and do not anticipate numerous health related expenditures, then HSA might not

be for you, but an replacement, after-tax savings account may be far better.

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More information...

Look at http://highdeductiblehealthplan.org/hsa_health_plan.html

(Link) to find out much more about HSA

accounts, and to find a HSA financial institution which will best aleviate the 5 not-so-secret drawbacks of HSA accounts.

http://highdeductiblehealthplan.org/hsa_health_plan.html

Just visit...

Just visit

highdeductiblehealthplan.orgfor much more information on the best

way to find a fantastic HSA bank account.