Hi Mustachians!
We have extremely good health insurance, and we are generally healthy people with no medical conditions. My husband works for the VA with federal insurance, and his and my son's co-pays for doctor visits/prescription meds are very small. I have pretty good primary insurance for free through my job, and then secondary insurance through my husband that covers all my co-pays. So, for example, when my son was born, the bill for me was $0, and my son cost $150.
I have to pay for contact lenses every year, which usually costs about $50 after reimbursement from my insurance. We put $40/month in a small (non tax-sheltered) bank account towards health costs, which generally all get used up on contact lenses, glasses, and various medications/health related products, some of which might not even count for HSA expenses.
So I've always reckoned that it isn't worth having an HSA, because doesn't that money just evaporate at the end of the year?
What am I missing? Should we set this up?