Reply to High Deductible Health Insurance Plan

Forum Index » Money and Finances

Reply to "High Deductible Health Insurance Plan"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]We switched to the Carefirst HDHP this year after doing a LOT of math. For us, BCBS Basic was just under $10K/year, including our FSA contributions. The HDHP will be less than $3K, with a deductible of 3300. So even if we max out our deductible, we are coming out way ahead. We are maxing the HSA account, and taking the tax advantages. Our total spend will be about $11K, so a little more than under Basic - but a much greater share of it is tax-advantaged savings, or available to us beyond this year.

It is a big shift in thinking, and I was pretty cranky to pay sticker price for prescriptions in Q1. But between the prescriptions and a couple of appointments, we've hit our deductible so everything else should be inexpensive (relatively). [/quote]

I'm this PP. One other thing I think gets lost is that the benefits of the HDHP really accrue over time. The first year in particular feels expensive because you are paying your deductible before the HSA funds have accrued. But assuming you max your HSA and have medium or low health care usage, then in year 2 you can reimburse yourself for the deductible out of the existing HSA funds. By a few years in, you should have enough in the HSA to cover the out of pocket max in a high-usage year, which lets you put health savings on autopilot with better budgeting ability.[/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