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Posted on 9/15/19 at 11:03 pm to Slim Chance
Had low deductable PPO since I was 26. Just a week ago we decided to switch to the HSA plan because we don't go to the doctor enough to justify it, even with twin toddlers. My company covers the full cost of the plan for my whole family and contributes $150/month to the HSA. Saved us more than $300/month plus the $150 for the HSA.
Posted on 9/15/19 at 11:04 pm to UMRealist
quote:
Do you go to the dr a lot? If so it’s gonna suck.
We’ve had multiple hospital stays and doctors visits on our HSA. Still ahead compared to a PPO after 2.5 years.
Posted on 9/15/19 at 11:05 pm to MrSmith
Maxing out an HSA makes a ton of sense for lots of people. It's worth discussing with a financial advisor or your accountant.
Posted on 9/16/19 at 4:41 am to Slim Chance
A high(er) deductible plan with an HSA is the only way to go, IMO. I max my HSA contributions out every year. It’s pre-tax, and you never lose the money.
This post was edited on 9/16/19 at 4:43 am
Posted on 9/16/19 at 4:57 am to Slim Chance
quote:
As far as actual medical procedures, surgeries, etc. I don't foresee much of that
No one ever does.
Posted on 9/16/19 at 5:09 am to Slim Chance
I have this one for my family. My company gives me 2700 every year into an HSA and I put in the rest to max out my 6000 out of pocket max.
The good thing about the HSA is unused $ can be invested.
I was worried when I switched because I always had the traditional PPO. Other than paying a bit more for visits, it’s not a whole lot different. I always make sure to use in network doctors.
The good thing about the HSA is unused $ can be invested.
I was worried when I switched because I always had the traditional PPO. Other than paying a bit more for visits, it’s not a whole lot different. I always make sure to use in network doctors.
Posted on 9/16/19 at 5:20 am to Slim Chance
I have an HDHP plan for myself and my son.
The first few years before he was born I never came close to the deductible so the savings in premium were well worth it.
A few years in I did hit my max out of pocket of $2,000 in network, but I had that much in HSA.
With a dependent the max doubles and premiums are higher, so it's not quite the slam dunk it once was, but I still think we come out ahead. He spent 3 weeks in the NICU, had a surgery, and I had a knee reconstruction last year, so we were at that max pretty quickly. He has had two surgeries this year and I had a lot of PT, so again we hit the max easily, but haven't paid a dime out of pocket since.
The first few years before he was born I never came close to the deductible so the savings in premium were well worth it.
A few years in I did hit my max out of pocket of $2,000 in network, but I had that much in HSA.
With a dependent the max doubles and premiums are higher, so it's not quite the slam dunk it once was, but I still think we come out ahead. He spent 3 weeks in the NICU, had a surgery, and I had a knee reconstruction last year, so we were at that max pretty quickly. He has had two surgeries this year and I had a lot of PT, so again we hit the max easily, but haven't paid a dime out of pocket since.
Posted on 9/16/19 at 5:20 am to Slim Chance
Healthcare costs are so jacked in this country and quality of healthcare has gone to absolute shite.
I know...if you don’t like it, leave... right?
I know...if you don’t like it, leave... right?
This post was edited on 9/16/19 at 5:24 am
Posted on 9/16/19 at 7:41 am to Slim Chance
I found if you're relatively healthy and don't plan/need to see the doctor very much, a HDHP/HSA is a good way to go. Lower monthly premiums, an opportunity to put pre-tax dollars into an account where you can get their full value.
As a diabetic, I found it horrible because of the cost of my medications skyrocketed, whether I was paying full price at the beginning of the year before hitting my out-of-pocket, and then paying hundreds of dollars a month even at just 20% of cost - and with savings cards. If nothing else, I basically was able to save enough in the HSA to cover, but not grow it.
When my company offered a PPO again, I jumped at it.
As a diabetic, I found it horrible because of the cost of my medications skyrocketed, whether I was paying full price at the beginning of the year before hitting my out-of-pocket, and then paying hundreds of dollars a month even at just 20% of cost - and with savings cards. If nothing else, I basically was able to save enough in the HSA to cover, but not grow it.
When my company offered a PPO again, I jumped at it.
Posted on 9/16/19 at 7:51 am to Slim Chance
We have been on one for years now. Our employer pays about 78% of the premiums, and gives us some money toward our HSA, which we can also contribute to.
They are great if you are reasonably healthy, you can bank some HSA money. Of course if you have a surgery, you pretty quickly meet your deductible, so also okay.
We have been happy with it for the years we have had it, but no major incidents. My wife has had a couple of prescriptions that were super expensive, but we were able to reduce the price some with prescription cards.
They are great if you are reasonably healthy, you can bank some HSA money. Of course if you have a surgery, you pretty quickly meet your deductible, so also okay.
We have been happy with it for the years we have had it, but no major incidents. My wife has had a couple of prescriptions that were super expensive, but we were able to reduce the price some with prescription cards.
Posted on 9/16/19 at 8:12 am to Slim Chance
If you're young, single, and rarely ill it's a non issue.
Read your policy regarding HSA. For some providers it's a " use it or lose it" funds placed in the account by the end of the year.
Read your policy regarding HSA. For some providers it's a " use it or lose it" funds placed in the account by the end of the year.
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