My job just implemented a Health Savings Account and I don’t understand if this replaces my health insurance. I feel like I’m getting ripped off but I may be misunderstanding this.
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Thinking of investing your savings?
While increasing your savings is good, multiplying your money through smart investments feels great - there are lots of opportunities out there and you can be successful if you're arming yourself with the right information.
Where to start?
If you're going to try your luck on the stock market or trading options, first start by learning the basics and delay as much as possible buying real positions. One way of getting hands-on experience with the markets is through online trading - either forex or binary options are good learning grounds and most online brokers offer trial accounts free of charge (if you're wondering what are binary options, 24option.com has very good resources on it, besides offering a free practice account and a wealth of information about binary trading in general). Final warning for the very eager: binary options are exotic financial instruments; real trading involves substantial risk of monetary loss.
One Comment
Health Savings Accounts have to be “matched” with HSA-compatible health insurance plans to function correctly. So the HSA isn’t replacing your health insurance, your entire setup is being changed.
I would ask for a thorough explanation of your new HSA and answers as to how it differs from what you had before.