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Reply to "Is HSA preferrable over regular health insurance plans? "
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[quote=Anonymous][quote=Anonymous]Op here - we initially didn’t do it because I was pregnant a lot the past 9 years (6 pregnancies and 3 living children). But we are done having kids now and am wondering if it makes sense. However things like kids surgeries (tonsil and broken arm) have come up 3 times in the past 4 years. I guess we could just pay till we hit the deductible and then 80% would be covered by insurance? We also have things like food allergies, kidney problem (hopefully resolved for one kid), and just regular visits for 5 people every year. [/quote] The best way to figure this out is do run a what-if scenario. Redo your medical expenses for last year on the assumption that it was a HSA and see how you fare. Don't forget to include the tax-saving from the HSA savings as well as any 'kicker' your employer gives you for choosing an HSA. More often than not, you'll find that an HSA works best pretty much in any scenario. [/quote]
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