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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Converting to Health Savings Account

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: When I leave my employer to work on my own, I want to get a health savings account to save money. Can you help me convert my current plan to an Health Savings Account?

A: You will need to apply for a new health insurance policy since your employer-provided health plan is not HSA-qualified. The lowest cost HSA-qualified insurance is available through "Golden Rule" at You can get a quote and apply online but be aware that it takes a few weeks for any HSA insurance to be issued. In the meanwhile, select any of the short term medical insurance plans available in your state also listed at


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