If you company is anything like mine it's optional now but soon it will become mandatory. Always under a PPO until this year and a HD/HSA was our only option. Maxed out my contributions this year and will do the same next year to build the account up. When I ran the numbers, even with meeting our deductible this year, it was almost breakeven due to the difference in cost and switching from a FSA to a HSA.

The one thing I overlooked, but someone mentioned it above, is our prescription were quite a bit higher under the new plan.

I didn't have a choice but it was nice to know my costs were pretty much similar to my outlay last year.

0 ...

Report Post

Posted by RC

Member since Apr 2009

957 posts

Posted on 11/14/13 at 1:39 pm to Shenanigans

Another advantage of HSA is that you can use pretax money from the HSA to pay for things like dental visits and over the counter meds.

0 ...

Report Post

Posted by Shenanigans

Spring Hill, TN

Member since Nov 2012

2394 posts

Posted on 11/14/13 at 1:48 pm to evil cockroach

quote:
Ecolab?

No. #245 on the list.

But I have decided to go with the HSA as well.

0 ...

Report Post

Posted by TigerDeBaiter

Member since Dec 2010

10262 posts

Posted on 11/14/13 at 2:19 pm to Shenanigans

quote:
I've always went with the traditional plan in the past and been relatively satisfied with coverage. However, in response to Obamacare, my company has jacked up the rates and now has me questioning which plan I should enroll in. It's going to cost me $4900 in payroll contributions under the traditional plan, but only $2250 under the HSA option. My employer also contributes $750 each year to the HSA plan, but it has a $3K deductible to meet before the plan pays benefits which I believe are then paid out at 80/20 by them.

$2250+($3000-$750)<$4900 If the coverage is equal, then the HSA is a no brainer.

PLUS, you get to keep any contributions you do not use. Forever. And can even invest the contributions. Preferably in something very safe. But small gains are better than no gains. I look at it as another form of retirement if you don't end up meeting your deductible every year. Chances are you will have medical expenses when you retire.

Page 1 2