Chuck profile image 83

High deductible ObamaCare medical insurance and health savings accounts.

Do the high deductible health insurance policies being sold on the ObamaCare exchanges qualify for health savings accounts? A health savings account is an IRA type savings account in which people can make tax deductible deposits which can then be withdrawn tax free to pay for routine medical costs. These accounts are paired with a medical insurance policy with an annual deductible ranging from around $2,500 to $10,000. The idea is for people to save and pay routine medical bills from the savings account and have the insurance for catastrophic medical emergencies.

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junkseller profile image89

junkseller says

2 years ago
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graceinus says

2 years ago
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  • ChristinS profile image

    Christin Sander (ChristinS) 2 years ago

    health insurance already cost an arm and a leg and wasn't even available to many people previously.

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