Hi Mustachians,
I keep on waffling between the HD-HSA and low deductible plans my employer offers. I think the low deductible plan is a better value over the short term and the HSA is better for FI reasons if I pay my medical expenses not out of the HSA
a la Mad FIentist. There's also a co-pay plan that I'm not even going to bother considering.
I am 34 and pretty healthy and have no prescriptions besides a Ventolin inhaler I refill once a year. I do have some possible nerve damage in my right hand (ulnar neuropathy), and a frayed meniscus in right knee so I occasionally have to see specialists. I see a therapist a couple times a month and go to chiro every week or two. I do hit the deductible on the "high" deductible plan, but not the out of pocket max. I still have a few thousand in an HSA from when I had a HD plan the year before last and the previous year.
Details:
Low deductible planAnnual employee cost: $364.00
Biweekly employee cost: $14.00
Deductible: $400.00
Co-insurance after deductible is matched: 80-90%
Out of pocket max: $1500
I used this plan this year and still have $675 to go before hitting my out of pocket max.
"High" Deductible Plan with HSAAnnual employee cost: $442.00
Biweekly employee cost: $17.00
Deductible: $1300
Co-insurance after deductible is matched: 80-90%
Out of pocket max: $2000
Employer HSA contribution: $825 annual
I'm leaning toward going back to the high deductible plan with the HSA, but would appreciate any input from a working towards FI perspective. Thanks!