Author Topic: Should I pay MORE monthly for an HSA Eligible Health Insurance Policy?  (Read 2296 times)

OneCoolCat

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HSA eligible account will cost me $90 a month, while a next cheapest policy (not HSA eligible) will cost me $50 a month.  I would expect the HSA to be the cheapest so this seems odd to me.  If I were to get the HSA, I would invest the full 3500/yr.  401k and IRA are already being maxed, extra cash is going toward student loans and a taxable account.

forummm

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Do they put money for you into the HSA? Or an HRA? That could account for the extra cost.

If not, paying $500 for the ability to delay tax on $3500 doesn't seem like a great deal. And I find the HSA-maxing strategy to be wanting in general.

MDM

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HSA eligible account will cost me $90 a month, while a next cheapest policy (not HSA eligible) will cost me $50 a month.

Those are the insurance premiums for each.   What are the other costs & benefits (e.g., deductibles, max out-of-pocket, co-pays, what is/isn't covered, etc.)?

OneCoolCat

  • Bristles
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HSA eligible account will cost me $90 a month, while a next cheapest policy (not HSA eligible) will cost me $50 a month.

Those are the insurance premiums for each.   What are the other costs & benefits (e.g., deductibles, max out-of-pocket, co-pays, what is/isn't covered, etc.)?

HSA - $90/month Premium
$3000 deductible
$6350 Out-of-pocket Max
$30 Physician co-pay
$60 Specialist co-pay
$500 inpatient hospital co-pay
$30 lab / $125 xray / $300 complex imaging - Outpatient diagnostic
$300 ER co-pay
$75 Walk-in urgent care

Non-HSA - $50/Month Premium - I don't think my office contributes to the HSA
$6600 deductible
$6600 Out-of-pocket Max
$25 Physician co-pay
$75 Specialist co-pay
$0 inpatient hospital co-pay
$0 for all Outpatient diagnostic
$0 ER co-pay
$75 Walk-in Urgent Care (does that mean I would be better off going to the ER than an urgent care facility?)

Free policy - $0/Month Premium
$5000 deductible
$6600 Out-of-pocket Max
$40 Physician co-pay
$60 Specialist co-pay
$750 inpatient hospital co-pay
$0 lab / $0 xray / $350 complex imaging - Outpatient diagnostic
$350 ER co-pay
$75 Walk-in urgent care

What seems best?  I'm late 20's and don't have any known health problems.  I havent been to the doctor in a couple years but I will go for a physicians check up while i'm under my current policy soon.  Im think the free policy unless there is any reason to go with the HSA.  I anticipate I will get a physical and some blood work done in the year.
« Last Edit: June 21, 2015, 09:22:13 AM by OneCoolCat »

forummm

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If you're male I would go with free. If you're an otherwise healthy male late 20's there's not even the need to go get a physical. Just as long as you're up to date on preventive care (there isn't much for someone your age). There's a bit more recommended for a female, and the risk of pregnancy too.

www.cdc.gov/prevention/

OneCoolCat

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If you're male I would go with free. If you're an otherwise healthy male late 20's there's not even the need to go get a physical. Just as long as you're up to date on preventive care (there isn't much for someone your age). There's a bit more recommended for a female, and the risk of pregnancy too.

www.cdc.gov/prevention/

Yeah, im a male.  I'll go with the free policy.

MrsCoolCat

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Was this post right before ur accident? Ironic.