health savings account was Re: health insurance

[Wimblees@AOL.COM]

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In a message dated 5/24/01 1:44:06 AM Central Daylight Time, 
rbrekne@broadpark.no writes:


> I have found (through many past mistakes) that a "Medical Savings
> > Account" is the best way to go. I have mine through a company called 
> Golden
> > Rule. They offer significantly lower premiums than any other company that 
> I
> > have seen. The payment is roughly what i was paying before but the
> > difference between the actual premium and the payment is what goes in the
> > interest bearing savings account. This money can be used for any medically
> > deductible expenses you find throughout the year including but not limited
> > to satisfying the deductible. Please do yourself the favor of at least
> > checking into it. It really is the best thing going IMHO!
> >
> > Greg
> >
> 

The way I read this, the premium you pay goes into a savings account, and 
when you need to, you can use the saved up amount to pay the bill.  What 
happens when you have a bigger claim than what you have in your savings 
account? I presume Golden Rule will "lend" you the money to pay the rest of 
the bill. If so, what interest do you have to pay then? And if you decide to 
quit the company, will you have to continue to pay off your "loan," in 
addition to paying for your new insurance plan?

Willem 

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