Quick question on insurance. Currently on wife's health plan; a PPO which costs us about $300 a month for H/V/D. Co-pays for most visits and meds, up to I think a $5000 max out of pocket per year. 80/20 split for larger expenses like hospital stays, ambulance trips, and surgeries, up to the out of pocket max.
My employer offers an HSA/HDHP for $175 a month for H/V/D. $4000 yearly deductible and separate $2000 prescription deductible. Employer also deposits $3000 into HSA account per year which can be invested once the balance is over a certain amount.
Wife and I are 25/26 years old with no children and in good health, non-smokers, ect. Do plan on having kids in the next few years. No major health problems expected in future other than I only have one kidney and both the wife an I have some lumbar spine issues which hopefully won't flare up too much later in life.
I'm leaning towards the HSA because if we can keep our medical expenses low for a year or two, we will be able to just use the employer's seed money to pay for all our medical bills and never have to pay out of our own pockets for healthcare. Also its free money to invest and possible use for other things later in life, after age 65.
What do you guys think?