PPO vs HSA high deductible - Page 2 - TigerDroppings.com

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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18607 posts
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re: PPO vs HSA high deductible


My employer plan told me to pick a bank. I shopped around and went with HSA Bank since they have a deal with TD Ameritrade who allows for commission free trades of Vanguard ETFs.

So every paycheck I have $125.00 ($125 X 26 pay periods = 3,250 max contribution) direct deposited into my HSA bank account. I then request the transfer to TD ameritrade, and then purchase my Vanguard ETFs.

The only fee I have with HSA Bank is $3 a month since I don't hold their minimum amount in the account. I have yet to find a fee free HSA bank institution that allows me to invest like I want. They all take money from somewhere, either at setup or not having commission free trades, or whatever, so I went with the one that seemed the least "damaging."



This post was edited on 4/17 at 10:45 am


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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3589 posts

re: PPO vs HSA high deductible


quote:

I shopped around and went with HSA Bank since they have a deal with TD Ameritrade who allows for commission free trades of Vanguard ETFs

Interesting. I have HSA. Is it just the Vanguard ETFs? Are there other commission free options?






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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18607 posts
 Online 

re: PPO vs HSA high deductible


quote:

Interesting. I have HSA. Is it just the Vanguard ETFs? Are there other commission free options?


TD Ameritrade has the list. Let me see if I can find the link.

LIST of ETFs

Warning: When you open the TD Ameritrade account through HSA Bank, you have to "Activate" the commission free trades. Its really a stupid hurdle. My first trades got charged 9.99 and I called them like "WTF?" and they told me that. Its a link on your account page. But they did the right thing and removed the charges.



This post was edited on 4/17 at 10:51 am


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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3589 posts

re: PPO vs HSA high deductible


Thanks.





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ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
8225 posts

re: PPO vs HSA high deductible


quote:

I have one prescription medicine I take that is a generic, and I get filled once every 60 days. Would I have to pay out of pocket for it per month?


I think Vols&Shaft already answered, but you can use the money in your HSA or pay cash.

This brings up one (maybe the only) advantage of Flex Spending. With an FSA you can spend all of the money you will allocate during the plan year at anytime. So if you are contributing $200/month you can spend all $2400 on Jan 1.

Also, if you have spent more than you've contributed and terminate your employment, your former employer eats the difference.

I'm not making an argument for the FSA option here, just thought that was worth mentioning.



This post was edited on 4/17 at 11:19 am


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Siderophore
LSU Fan
Member since Nov 2010
3334 posts

re: PPO vs HSA high deductible


Another little known attribute of HSAs is that you can reimburse yourself from it with no time limits.

Let's say you incur moderate health expenses but you decide to pay out of pocket because the market is low right now and your HSA is heavily in securities.

You can come back years down the road (as long as you have the documentation of expenses) and pull the money out when it's more adventagous.






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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18607 posts
 Online 

re: PPO vs HSA high deductible


Great post


This post was edited on 4/19 at 1:51 pm


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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
13127 posts

re: PPO vs HSA high deductible


Thread makes me wanna have sex with my HSA.





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