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savings account is an IRA type savings account in which people can make tax deductible deposits which can then be withdrawn tax free to pay for routine medical costs.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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health insurance already cost an arm and a leg and wasn't even available to many people previously.
That's the whole point, now everbody has to pay an arm and a leg.
hopefully that is all it will cost, but I fear that it will end up costing a whole lot more. anytime politicians get involved in money matters, the costs skyrocket. if they want to cut costs eliminate the suing. tough to do in porkbarrel politics