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Message
Do we qualify for starting an HSA?
Posted on 11/6/18 at 10:57 pm
Posted on 11/6/18 at 10:57 pm
I am so confused as to whether or not I qualify for an HSA. After reading, it seems like you need a high deductible but not too high of an OOP maximum. I believe that I qualify but my wife does not. Just want to make sure I have it right before I pull the trigger.
My plan through work is $1500 deductible, $5250 out of pocket both in network. My wife and son's plan is directly through Blue Cross. The individual deductible is $2500, family is $7500. Individual out of pocket is $7350, family is $14700.
Any help appreciated.
My plan through work is $1500 deductible, $5250 out of pocket both in network. My wife and son's plan is directly through Blue Cross. The individual deductible is $2500, family is $7500. Individual out of pocket is $7350, family is $14700.
Any help appreciated.
4
Posted on 11/6/18 at 11:02 pm to Bonjourno
Does your work talk about it?
If they don't even bring it up, then they probably don't offer a plan that is HSA eligible.
If they don't even bring it up, then they probably don't offer a plan that is HSA eligible.
Posted on 11/7/18 at 5:46 am to Bonjourno
You only need the high deductible plan to qualify in most cases. In my experience the OOP $$ is irrelevant.
Posted on 11/7/18 at 6:11 am to Brian Wilson
OOP does not matter. The plan should literally be called a high deductible plan in my experience. I’ve had OOP the same as my deductible, like $2500/2500. So as soon as I hit my deductible my OOP was met additionally and I didn’t owe anything else.
Posted on 11/7/18 at 8:38 am to Bonjourno
Do you have any copays in the plan?
Posted on 11/7/18 at 5:45 pm to Bonjourno
quote:
I believe that I qualify but my wife does not. Just want to make sure I have it right before I pull the trigger.
My plan through work is $1500 deductible, $5250 out of pocket both in network. My wife and son's plan is directly through Blue Cross. The individual deductible is $2500, family is $7500. Individual out of pocket is $7350, family is $14700.
You are correct. Her max out of pocket is too high for both the individual and the family. For 2019, the max OOP is $6,750 for self-only coverage and $13,500 for the family plan. Her deductibles are OK. It's really strange that they structured it like that. Why would they structure a plan that certainly is a high deductible plan, but doesn't meet the guidelines for having an HSA? Weird!
Posted on 11/7/18 at 9:02 pm to Jag_Warrior
My work does not offer an hsa but I don’t see why I wouldn’t be eligibe. I have copays with primary care and specialist visits. Does that matter?
Posted on 11/7/18 at 9:42 pm to Bonjourno
quote:
My work does not offer an hsa but I don’t see why I wouldn’t be eligibe. I have copays with primary care and specialist visits. Does that matter?
Yes. You don’t have a HDHP.
Posted on 11/9/18 at 2:39 pm to Golfer
quote:
Yes. You don’t have a HDHP.
How so? I am over the deductible and under the out of pocket
Posted on 11/9/18 at 3:02 pm to Bonjourno
quote:
How so? I am over the deductible and under the out of pocket
Because you have insurance coverage (e.g. co-pays) for non-wellness/preventive care before the deductible is met.
This post was edited on 11/9/18 at 3:02 pm
Posted on 11/10/18 at 11:35 am to Golfer
quote:
Because you have insurance coverage (e.g. co-pays) for non-wellness/preventive care before the deductible is met.
Good eye for detail, Golfer. I initially missed that detail.
quote:
HDHPs cover preventive care before the deductible – the ACA requires this of all plans – but under an HDHP, no other benefits are provided until the insured has met the deductible. That means HDHPs cannot have copays for office visits or prescriptions prior to the deductible being met (as opposed to a plan that’s got a high deductible but also offers copays for office visits from the get-go; people might generally consider the latter to be a high deductible plan, but it’s not an HDHP).
Source: LINK
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