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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: thedayisbrave on January 15, 2015, 01:32:08 PM

Title: Health insurance question
Post by: thedayisbrave on January 15, 2015, 01:32:08 PM
I left my previous employer that offered an HSA and was able to contribute $1600 last year. 

Currently I'm on my mom's plan through her work since I'm under 26.  She pays about $400/mo to cover me, my brother and her.  I'm 24, almost 25, so that coverage is ending soon. 

I qualify for COBRA but the monthly premium of $392 is way higher than the $200/mo HDHP plan I found on the open market (ehealthinsurance.com). 

I am able to max my HSA for 2014 and 2015 if I'm covered under an HDHP HSA eligible plan for all of 2015, or else I will have to take some contributions out to avoid a penalty.

What should I do? Go ahead with my own insurance through ehealth and continue to max my HSA?

I currently work as a real estate agent - so independent contractor and thus no benefits.

Thanks!
Title: Re: Health insurance question
Post by: Numbers Man on January 15, 2015, 02:04:29 PM
Your Mother's rate will be the same whether you are on her plan or not (since your brother is still on the plan). So why don't you slip your Mother a couple hundred bucks a month to say thanks for being a great Mom until you're 26. Then get you own plan on the open market after that.