Reply to Anyone have experience with a "high deductible" health insurance plan?

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Reply to "Anyone have experience with a "high deductible" health insurance plan?"

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[quote=Anonymous][quote=Anonymous]OMG, OP here.  I don't see how I can afford to put so much money in an account, I'm barely scraping by as it is and I don't have any leftover money in my budget to put away.  I don't know how I'm going to afford my thyroid medication.  I can't believe this. [/quote]

Do you understand that the high-deductible plan will be much lower in terms of premiums? You bank the difference in the HSA -- that's how people "'afford to put so much money in an account.""

Before, you paid premiums. Odds are you paid more in premiums than you used in health care. Now you pay less in premiums and pay-as-you-consume-medicine out of the HSA.

Say your old plan cost you $6,000 a year. The high-deductible plan costs $2,000. You bank the other $4,000 and have no out-of-pocket difference. Under most circumstances, you spend down say half of your HSA, so you have $2,000 left on Dec. 31. Then next year you do the same thing and at the end of the year you have $4,000 net saved.

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