A Health Savings Account (HSA), is a savings account used in conjunction with a high deductible medical insurance policy, to pay medical expenses not covered by your insurance policy. Contributions to your HSA are tax free and are NEVER taxed. At age 65 you can use funds in your HSA for non-medical expenses.
There are numerous companies that offer HSA accounts, but we have no specific recommendations at this time.
The HSA Number Cruncher randomly simulates medical events that occur throughout your life, then displays your financial position due to your medical expenses and insurance choice.
Each time you run the HSA number cruncher, you'll have a different result, but the basic trends will be abundantly clear.
The real estate rent vs own argument applies to your health insurance, except the barriers to entry are significantly less, even non-existent.
A conventional policy is like renting from a wicked landlord. You pay your rent every month and when your sink clogs you pay the plumber too!
An HSA is like buying a house, and the better your health the lower your interest rate. When your sink clogs with an HSA, you still pay the plumber, but the value of your home keeps going up.
Because excellent health care shouldn't bankrupt you, it should help you lead an active and productive life!