Americans need to protect their health, and that's all there is to it. As of 2023, the Milliman Medical Index estimates it would cost a family of four $31,065 for annual medical expenses, even if they have employer insurance coverage. That may only continue to rise as interest rates rise in the United States as well.
Yet Americans continue to push their health savings aside, with Health Savings Accounts (HSA) and Medical Savings Accounts (MSA) continuing to have low balances, according to the EBRI Education and Research Fund.
