Who Should / Should Not Use a Health Savings Account?

A Health Savings Account is useful if:

• You are under age 63 1/2.
• You have no significant medical history and are not being treated for significant pre-existing medical conditions.
• You live in any state except Hawaii, Maine, Massachusetts, New Jersey, New York, Rhode Island and Vermont, or Washington.  (HSAs are hard to find or not priced attractively in these states).
• You are willing and able to change your current health insurance and enroll in a new HSA-qualified lower cost health insurance plan

A Health Savings Account is likely not your best health plan option if:

• Your employer provides full coverage group health insurance 
• Your normal health care expenses are more than a thousand dollars per year ($2000 for families)
• You have significant ongoing medical issues, like treatment for diabetes.
• You expect to have higher than average expenses in the coming year; for example, if you expect to incur maternity care charges.
• You do not qualify for low cost health insurance plans.