Now that you know all about Health Savings Plans and how they benefit you, you may be wondering, “What’s the difference between an HSA and a traditional health plan? Should I choose an HSA or a PPO?”

After a sharp rally in equity markets in October, November started off on more rocky footing last week as the Federal Reserve hiked rates by 0.75% and made it clear that the central bank will not be pivoting from its hawkish stance near-term. Federal Reserve Chair Powell set the tone when he warned that the ultimate level of interest rates will be higher than expected, and markets responded by pushing up peak short-term interest rate expectations above 5% for next year.

If you’ve ever enrolled in a high-deductible health plan, you’ve probably been asked if you wanted to sign up for a Health Savings Account (HSA). But what is an HSA, and what’s the difference between an HSA and health insurance? Dahna Sanders, Senior Workplace Banking Representative with First Merchants Bank, is here to help.

Scott McKee, Director of Corporate Social Responsibility with First Merchants Bank, had always thought about adopting a child. “I remember – before I was even married – seeing a documentary about the conditions in what were then Soviet orphanages,” Scott recalled. “And I remember, very clearly, wishing that I could do something to help.”

Equities continued to rally sharply higher last week despite relatively disappointing earnings results from several of the tech giants that carry large weights within the U.S. equity market.