7 Often Overlooked Disadvantages of Health Savings Accounts

When Amy switched to a high-deductible health plan to lower her monthly premiums, her employer encouraged her to open a Health Savings Account (HSA). The tax benefits sounded great, so she signed up. A year later, she realized she had paid several account fees, still hadn't met her deductible, and had a box full of unorganized receipts she might need if the IRS ever asked for proof. She also learned she'd have to stop contributing months before starting Medicare. None of this was on her radar when she enrolled.