Health Savings Account Blog

Golden Rule also confirmed that its customers have accumulated more than $132 million in their tax-advantaged savings accounts - strong evidence that the accounts are working the way HSA proponents intended they would.

Having an extra $132 million in HSA deposits should help enable Golden Rule to keep its health insurance premiums low. The company has very competitive rates in most markets, and recently introduced a lower-cost "Saver" plan, that does not cover outpatient doctor visits. As an example of how low the premiums are, a young family of four living in Ohio or Arizona or Michigan who chooses a Golden Rule Saver HSA plan with a $5,250 annual family deductible might have a monthly base premium of well under $200.

HSAs pair a lower-cost high deductible health savings plan with a tax-favored savings account. Money saved on the reduced insurance premiums can be placed into the savings account and withdrawn tax free to pay the insurance deductible and other qualified medical expenses, including vision and dental care.

Policy-holders can place their funds with any number of HSA Administrators. I'm sure many Golden Rule customers have chosen to place their funds with Golden Rule because it is convenient, and because Golden Rule is currently paying 4%, one of the highest rates available for HSAs that are placed in savings accounts. Other administrators also offer various investment options as well, a list of which can be seen on our HSA Administrators page.