Which plan is designed to assist with out-of-pocket medical costs?

The option that is designed to assist with out-of-pocket medical costs is a Health Savings Account Plan. These plans allow individuals to set aside pre-tax income to pay for eligible medical expenses. The funds in a Health Savings Account can be used for various out-of-pocket costs, such as deductibles, copayments, and certain treatments that may not be covered by insurance.

This structure not only provides financial assistance for immediate healthcare expenses but also encourages individuals to save for future medical costs, as the unused funds can roll over year after year. Moreover, the tax advantages associated with Health Savings Accounts make them a beneficial option for managing healthcare expenses in a tax-efficient manner.

While other plans like Insurance Plans and Health Care Coverage Plans provide broader health coverage, they do not specifically focus on helping individuals manage out-of-pocket expenses in the same way that Health Savings Accounts do. Retirement Savings Plans are designed for long-term savings and retirement income, rather than medical expenses, making them irrelevant in this context.