As corporate America continues to search for creative ways to streamline costs and reduce expenditures pertaining to medical expenses, more companies than ever are offering High Deductible Health Plans (HDHPs) with a companion Health Savings Account (HSA) option. Two-thirds of companies with 1,000 employees or more are offering this HDHP/HSA option. The popularity of the HDHP/HSA combination has increased substantially over the past decade. As of 2014, 17.4 million people were enrolled in HDHP/HSA compared to a mere 3.2 million in 2006, a five-fold increase in just 8 years. In short, an HDHP is a pre-tax medical plan that requires the employee to absorb the cost of medical expenses up front to a defined dollar amount to satisfy a deductible before the traditional medical plan provides coverage. In addition to reducing medical expenses by shifting the cost burden onto the employee, the employer circumvents the 40% excise tax that the Affordable Health Care Act will impose on high-value insurance plans beginning in 2018. These plans may be a win-win for both the employer and employee. Continue reading "Utilizing A Health Savings Account (HSA) As A Health Care Cost Containment Play While Augmenting Retirement Savings"