Author Topic: HSA Provided by Employer  (Read 1248 times)

vuedoolor

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HSA Provided by Employer
« on: November 11, 2017, 06:28:27 AM »
Hi all, so I'm looking for opinions since I've never had health insurance or haven't really paid any attention to how it works in the past.

The HSA has a $2000 deductible for individual and looks like it covers 80% on most visits within the network after the deductible.

If I do get a HSA through my employer would it be a waste to enroll in their vision care plan and dental plan seeing that HSA can also be used for dental and vision already?


MayDay

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Re: HSA Provided by Employer
« Reply #1 on: November 11, 2017, 06:53:47 AM »
In my experience vision plans aren't a great deal. It's cheaper t just go to Costco.

Dental is worth it for us, but you have to run the numbers.

We tend to just pay our medical bills and let the HSA money grow for future use. There are different strategies for using or saving HSA money.

Merrie

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Re: HSA Provided by Employer
« Reply #2 on: November 11, 2017, 08:56:36 AM »
Our vision plan is worth it to me because I have to wear my glasses all the time and prefer to get quality ones from a provider with good customer service and a solid warranty/replacement plan. I tried a discount place and wasn't happy with them. I am happy with the service provided at my optometrist and don't want to mess around with any more discount providers. My vision plan saves me quite a bit on the service I get even after factoring in the cost of premiums. Another who doesn't wear glasses or is happy with the ones from Zenni or similar might feel differently.

You have to compute how much you are likely to spend with versus without for either plan.

vuedoolor

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Re: HSA Provided by Employer
« Reply #3 on: November 11, 2017, 09:54:26 AM »
Okay noob question but how does the deductible work?

Let's say I pay my $2000 deductible already for this year, when next year comes does the deductible reset back to $0.00? Meaning each year I'll have to pay a $2000 deductible or is the $2000 deductible good for the duration of my life?

ixtap

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Re: HSA Provided by Employer
« Reply #4 on: November 11, 2017, 10:51:19 AM »
Okay noob question but how does the deductible work?

Let's say I pay my $2000 deductible already for this year, when next year comes does the deductible reset back to $0.00? Meaning each year I'll have to pay a $2000 deductible or is the $2000 deductible good for the duration of my life?

It is an annual deductible that resets each plan year.

MayDay

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Re: HSA Provided by Employer
« Reply #5 on: November 11, 2017, 10:53:05 AM »
It is annual but all the regular check-ups are free. So if you go in for annual blood work and physical it'll be free.

If you go in for strep throat or some other regular doctor appointment (no procedures) it'll be 100-300$ range. So of you are pretty healthy you won't hit the 2000$.

rubybeth

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Re: HSA Provided by Employer
« Reply #6 on: November 11, 2017, 12:33:55 PM »
How much health care do you use? Rx, doctor visits, general health? If you’re young and healthy and don’t take medications and maybe do one check up a year, you will be unlikely to reach your deductible—ever. If you take medication, have a chronic health condition that requires regular doctor visits, need to have surgery, etc. then you might reach that annual deductible of $2,000, then the coverage will pay 80% of costs up to your out of pocket maximum. Or if you get hit by a car and end up in the ER, this can also be reached easily. How risky is your life? Do you regularly sky dive, mountain ski jump, etc.? If you’re like most people, the answer is a low risk lifestyle, as well.