My company was recently purchased by another company which offers significantly worse benefits. We were paying ~$100 a month for the basic plan with HSA, new company offers a basic plan at $632/month with HSA. Old company contributed $12,400 to my health coverage (myself, wifey and 2 kids). I have not yet received formal salary information, but I've been told that 'total compensation' will be equivalent. Hoping that includes the insurance money.
I'm considering telling the company I will purchase my own insurance and just give me that amount in pay. I did a quick estimate with a local insurance provider and came up at $10,200 as the cheapest plan I could find. About $850 a month. The new company also offers a $250 'bonus' for individuals who choose not to take their insurance, usually because they are covered under a spouse. Does anyone know if I am able to purchase private insurance even if I'm eligible through my employer? Any other gotchas I should look out for or questions I should ask?
Also, how do HSAs work if you are private? Can I still contribute pre-tax? Can I roll my current HSA cash? Or keep it? Thanks.