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

Forum Index » Health and Medicine

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]My dh's employer, drops $1000 into the HSA account at the beginning of each year. Basically, the first thousand is on them. The idea of an HSA is that it encourages the participant to be much more frugal about their medical care. I know I am more careful about pricing medication at different pharmacies to see which one is cheapest.[/quote]

Yes, many employers provide HSA contributions for at least 1-2 years after they do a switch to a HDHP. It probably won't be your full amount, but it should be a good start. In 2007, my employer switched to a HDHP and for about 5 years, we got an annual deposit. They stopped making that contribution after a lot of balances were built up.

As many others have said, the premiums under the HDHP should be much less than under your previous plan. Take that excess and put it in the HDHP (pre-tax) to help meet your expenses. The money in your HSA is yours (forever) and does not go away when you terminate your job  (either voluntarily or involuntarily).

Good luck. [/quote]

My company went to one starting in 2013.  It was announced as a way to let the employees take control of their health.  It also was announced the same week that I was diagnosed with metastatic cancer.  Initially, the plan cost the same as our previous 90-10 plan.  My old plan had no deductible and maximum out of pocket of $2200.  They gave us 1K for the HSA, deductible was 3K, maximum out of pocket was 9K.  I can say that the change cost me $6800/year as I typically hit the maximum out of pocket.

Next year, the premiums drop by $50 every two weeks (25%), the deductible drops to 2600 (minimum allowed with an HSA), and maximum out of pocket drops to 6K.  The net to me will be an extra $4200 in my account.

I do not understand how this plan would work for a low-income person.  I can afford it (but it is tight).[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics