Statistically it has been shown that the average person pays more in health insurance premiums than they receive in care. How else would the insurance companies stay in business. However, to not have health insurance is folly. The HSAs allow you to set money back for your own medical care, and take advantage of this statistic.
To qualify you must register for a High Deductible Health Plan HDHP, which essentially ensures coverage in case of a real disaster. The good thing about paying into the HSA is that you get to keep the money you save instead of pay it to the insurance companies. The money saved can be used for a broader range of services than most insurance policies pay for. The funds can cover such things as OTC medicine, dental and vision. The money rolls over every year, and once you hit 65 you can spend the money for expenses other than medical.
I checked out the services of Bank of America, (they appear to be a one stop shop lately). They offer a nifty credit card that is to be used only for HSA qualified expenses. This makes it easy to keep track of everything.
Side note. If you don't have the money to allow you to make $0 trades with BoA I wouldn't use them. I don't like their platform. Scottrade is better.
For more info on the HSA, including an FAQ visit: US Treasury HSAs
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