Health Insurance Product Reviews (BETA)
Major Carriers and High Deductible Health Plans

Vimo Editorial: Health Plan Profile

The most important asset of Aetna 's High Deductible PPO 2 plan is its HSA compatibility. Unlike Aetna 's PPO 20, 25, 30 and 40 plans, the High Deductible PPO 2 enables you to open a Health Savings Account (HSA).

A Health Savings Account (HSA) is a way to manage your money for future health expenditures. It's essentially a savings account that you contribute to with pre-tax dollars, that grows tax free, too. You have to have a high-deductible insurance policy in order to open an HSA, and there are limits to how much you can contribute each year. Many people aren't aware that Health Savings Accounts (HSAs) can act as a form of secondary 401(k). If you never get sick, you can still withdraw the money at retirement age without penalty. You can withdraw money at any age without paying penalties or taxes if the money is used for health-related expenditures. Money in an HSA grows tax free there are no capital gains or interest taxes applied to it. HSAs are regulated under the Employee Retirement Income Security Act and are essentially regarded by the government as a retirement plan. But only high-deductible health plans like the PPO 2 qualify you to open an HSA.

In addition to its HSA benefit, the PPO 2 is also a very simple plan to understand. Basically, you get zero benefit until you've burned through your entire deductible. Then, 100 percent of covered benefits are paid for. There isn't even a copay to visit doctors or buy drugs after your deductible.

BEST FOR: Health shoppers looking for an HSA-qualified plan that's easy to understand, with the lowest premiums on the market.

PROS: Aetna has an excellent online health management tool that lets you track your healthcare expenditures and is ideally suited for use with an HSA. This and the HSA compatibility of the plan make it ideal for shoppers interested in a consumer driven health plan that offers maximum transparency.

CONS: Aetna's PPO network can vary from area to area, so before buying, check with your broker to make sure that there's a wide choice of Aetna doctors near you.