The Affordable Care Act or “Obamacare” seems to be the only topic of conversation these days. It used to amaze me that Americans seemed more aware of who got kicked off “Dancing with The Stars” than who was Speaker of the House or Vice President of the United States. Now, most of us not only know who holds political office, we can speak their names and spit. There was even a piece about Healthcare.gov on the CMAs! Here’s a trivia question for you: How many people were able to register on the government exchange website (Healthcare.gov) on the first day? If you know the answer (6), then congratulate yourself as a pop culture aficionado!
Hopefully the situation changes, but in the meantime (without getting into the politics of frustration) a lot of people are going to have to make decisions about health insurance. One thing that the Affordable Care Act hasn’t done away with (although it did change some of the rules), is the individual Health Care Savings account, or HSA. If you are able to purchase a “High Deductible” healthcare policy (and you won’t know until you can register on the exchange), then you may be able to save money on premiums as well as enjoy the very tax-friendly benefits of a Health Savings Account or HSA. If you will be one of those looking for insurance when the technical issues with Healthcare.gov are fixed, make sure you evaluate the pros and cons of a High Deductible policy linked to an HSA.