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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I like my HDP because I get to save money in an HSA.  I rarely go to the doctor, so it works out for me. I hope to save 10-20k in my HSA before I switch back to regular insurance. [/quote]

OP here, so the firm announced today that they will be creating an HSA for all employees and put $1,000 in it for us - to get us acclimated to the high deductible plan.  However they said employees cannot contribute to it.  We would have to put money in a flex spending account.  i'm leery of the flex spending account (not that I really have the $ to put in there) since you lose it if you don't use it.

I will be checking out the ACA marketplace to see my other options.  Thanks![/quote]

OP, please check again. A high deductible plan means you must have either an HSA (Health Savings Account) or an HRA (Health Reimbursement Account). A Flex Spending Account (FSA) is one of the "use it or lose it" type accounts. FSAs are NOT compatible with high deductible plans (per IRS). My high deductible plan allows us to do a "limited use FSA" for vision and dental... but not medical. We also have a separate HSA for that.

Based on your description, it sounds like the employer is funding $1000 to an HRA. However, employees typically can contribute to HRAs.  HRAs don't have the portability that HSAs have. You can roll the balance of an HRA from one year to the next, but you cannot take it with you once you leave the employer.

What is your deductible again? (You might have said, but I can't remember.) What about your Out-of-pocket Max (OOPM)?

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