Zach is off and running in his first job in a great career. The last time Zach went to a doctor was to have his tonsils taken out as a child. Between work, sports, and dates, Zach doesn’t plan on taking time to see a doctor any time in the near future. However, Zach knows that he needs to have medical coverage in case something “big” happens. A high deductible health plan can give Zach the “catastrophic coverage” he needs for peace of mind while keeping his premium contribution per pay to a minimum.
The one thing Zach dislikes more than paying medical insurance premiums for coverage he almost never uses is paying taxes. He feels like payroll taxes eat up way too much of his take-home pay. He wishes he had a way to keep some of that money for himself. A Health Savings Account can reduce the payroll taxes that are deducted from Zach’s take-home pay, while gradually building up his own personal “medical savings account.” He can choose how and when to spend these funds for qualified medical expenses because it is his money. Plus the money can grow with interest and be rolled over from every year.