HSA vs. Traditional Health Insurance Plans | Page 2 | TigerDroppings.com

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LSUnGA
LSU Fan
Buford, GA
Member since Jun 2009
1443 posts

re: HSA vs. Traditional Health Insurance Plans


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.






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RC
Army Fan
Member since Apr 2009
518 posts

re: HSA vs. Traditional Health Insurance Plans


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.







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Shenanigans
LSU Fan
Member since Nov 2012
558 posts

re: HSA vs. Traditional Health Insurance Plans


quote:

Ecolab?


No. #245 on the list.

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






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TigerDeBaiter
LSU Fan
Member since Dec 2010
2841 posts
 Online 

re: HSA vs. Traditional Health Insurance Plans


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.






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