Save for a Rainy Medical Day
Save for a Rainy Medical Day
Imagine being able to go to any doctor you choose
Still, he acknowledges that only 20-25 insurance companies are offering MSA products -- most of them small companies that still offer indemnity-style insurance. "Until the big guys get in, I don't see a lot of growth," he says.
So while they are not the hot ticket they were five years ago, MSAs should probably be kept in sight -- if only out of the corner of one's eyes.
Are they good for you?
"They are good for the wealthy, and they are relatively good for the healthy as long as they remain lucky and don't get sick and can accumulate enough to cover their deductibles," Nichols tells WebMD. "There are some cases where people who have a chronic illness but have relatively low expenses can benefit because the premium is lower and the contribution is tax deductible."
Save for a Rainy Medical Day.
Imagine being able to go to any doctor you choose
Still, he acknowledges that only 20-25 insurance companies are offering MSA products -- most of them small companies that still offer indemnity-style insurance. "Until the big guys get in, I don't see a lot of growth," he says.
So while they are not the hot ticket they were five years ago, MSAs should probably be kept in sight -- if only out of the corner of one's eyes.
Are they good for you?
"They are good for the wealthy, and they are relatively good for the healthy as long as they remain lucky and don't get sick and can accumulate enough to cover their deductibles," Nichols tells WebMD. "There are some cases where people who have a chronic illness but have relatively low expenses can benefit because the premium is lower and the contribution is tax deductible."
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