heaalth coverage plans

[VakeelSab]

Employer provides 2 plans which one is best 

 

500 $ deductible plan and out of pocket 2000 $. montly payment 300$

High dedctible plan 3000$ and out of pocket  5500$.  montly payment 40$

500$ deductible plan lo

Coinsurance 20% of AD, doctor visit 15$, Specialist 30$, preventive covereed 100% , lab covered 20% of AD, hospital in patient and out patient(20% of AD), emergency 100$ copay

 

High deductibe plan lo:

Coinsurance 30% of AD, doctor visit 30% of AD, Specialist 30% of AD, preventive covereed 100% , lab covered 30% of AD, hospital in patient and out patient(30% of AD), emergency 30% of AD

[Katti_Ramdas]

How frequent you go to hospital. if its less then go for high deductible and pay less per month

[FrustratedVuncle]

14 minutes ago, VakeelSab said:

Employer provides 2 plans which one is best 

 

500 $ deductible plan and out of pocket 2000 $. montly payment 300$

High dedctible plan 3000$ and out of pocket  5500$.  montly payment 40$

500$ deductible plan lo

Coinsurance 20% of AD, doctor visit 15$, Specialist 30$, preventive covereed 100% , lab covered 20% of AD, hospital in patient and out patient(20% of AD), emergency 100$ copay

 

High deductibe plan lo:

Coinsurance 30% of AD, doctor visit 30% of AD, Specialist 30% of AD, preventive covereed 100% , lab covered 30% of AD, hospital in patient and out patient(30% of AD), emergency 30% of AD

High deductible lo HSA option unda? 

how healthy are you? Do you go to doctor often?

[VakeelSab]

On 9/29/2023 at 3:47 PM, FrustratedVuncle said:

High deductible lo HSA option unda? 

how healthy are you? Do you go to doctor often?

HSA option vundi bro. I don't go to doctor often .

do you it is better to add HSA with high deductible plan ? I have flexibilty to add up to 3850$ and I didn't add the amount.

[VakeelSab]

On 9/29/2023 at 3:38 PM, Katti_Ramdas said:

How frequent you go to hospital. if its less then go for high deductible and pay less per month

HSA add cheyamantara or can i go with only high deductible plan without hsa amount

[FrustratedVuncle]

7 hours ago, VakeelSab said:

HSA option vundi bro. I don't go to doctor often .

do you it is better to add HSA with high deductible plan ? I have flexibilty to add up to 3850$ and I didn't add the amount.

HSA max out chesi, investment option untadi andulo padeii, it will grow tax free. 

For family 7200 max anukunta.

If you do not have any investment plans I always recommend 401k max out (22500) and HSA max out (7200) which grow tax free

[VakeelSab]

15 hours ago, FrustratedVuncle said:

HSA max out chesi, investment option untadi andulo padeii, it will grow tax free. 

For family 7200 max anukunta.

If you do not have any investment plans I always recommend 401k max out (22500) and HSA max out (7200) which grow tax free

HSA amount enter ki option vundi bro I don't see invest option.

401K plan lo IRA or pre tax which option is good for registering. employer contribution 3% eddo venting vundi anta company. 150k ki 3% ante employer 4500$ /year contribute chestunda bro

401 k konchem details chepu bro . 150k salary and employer contrbution is 3% 

[pandu123b]

always go to High Deductible plans.

High Premiums plans are waste of money where you pre pay irrespective of if you use services or not

[former]

On 9/29/2023 at 4:32 PM, VakeelSab said:

Employer provides 2 plans which one is best 

 

500 $ deductible plan and out of pocket 2000 $. montly payment 300$

High dedctible plan 3000$ and out of pocket  5500$.  montly payment 40$

500$ deductible plan lo

Coinsurance 20% of AD, doctor visit 15$, Specialist 30$, preventive covereed 100% , lab covered 20% of AD, hospital in patient and out patient(20% of AD), emergency 100$ copay

 

High deductibe plan lo:

Coinsurance 30% of AD, doctor visit 30% of AD, Specialist 30% of AD, preventive covereed 100% , lab covered 30% of AD, hospital in patient and out patient(30% of AD), emergency 30% of AD

Is ur High deductible plan had HSA option?

[FrustratedVuncle]

1 hour ago, VakeelSab said:

HSA amount enter ki option vundi bro I don't see invest option.

401K plan lo IRA or pre tax which option is good for registering. employer contribution 3% eddo venting vundi anta company. 150k ki 3% ante employer 4500$ /year contribute chestunda bro

401 k konchem details chepu bro . 150k salary and employer contrbution is 3% 

your HSA amount will be in https://my.healthequity.com/

register ayyi andulo investment options untai opt one you are comfortable with

[VakeelSab]

2 hours ago, FrustratedVuncle said:

your HSA amount will be in https://my.healthequity.com/

register ayyi andulo investment options untai opt one you are comfortable with

Thanks bro

 

@FrustratedVuncle @Konebhar6 @csrcsr help on 401k

employee can contribute 5% on  401k and  company is  matching dollar to dollar 100% on the first 5% 

how much is my employer and my contribution to my 401 k. 

salary is 150K 

 

[VakeelSab]

3 hours ago, former said:

Is ur High deductible plan had HSA option?

it has HSA option for high deductible

[csrcsr]

13 minutes ago, VakeelSab said:

Thanks bro

 

@FrustratedVuncle @Konebhar6 @csrcsr help on 401k

employee can contribute 5% on  401k and  company is  matching dollar to dollar 100% on the first 5% 

how much is my employer and my contribution to my 401 k. 

salary is 150K 

 

You can max out too like you can contribute some 18k change max from you but the match is 5% if yiu just want for the match you can out 5% your employer will contribute 5% still u have room 7500 varaki niku mee employer contribution , some companies have vesting period check

[FrustratedVuncle]

4 hours ago, VakeelSab said:

Thanks bro

 

@FrustratedVuncle @Konebhar6 @csrcsr help on 401k

employee can contribute 5% on  401k and  company is  matching dollar to dollar 100% on the first 5% 

how much is my employer and my contribution to my 401 k. 

salary is 150K 

 

If you don't have any investment plans max out 401k which is 22500 this year. Your employer adds 7500 and your total 30k grows tax free

Me and my wife contribute 22500 each to 401k and 7200 for HSA.

[Konebhar6]

4 hours ago, VakeelSab said:

Thanks bro

 

@FrustratedVuncle @Konebhar6 @csrcsr help on 401k

employee can contribute 5% on  401k and  company is  matching dollar to dollar 100% on the first 5% 

how much is my employer and my contribution to my 401 k. 

salary is 150K 

 

Your employer will match 401k for 5% of your salary. Means they will match $ to $ up to 5% of your 150k which is $7500. If you put $5000, they will add $5000, if you put $7500 they will add $7500. If you add $10000, they will add $7500 as their max limit is 5% of salary which is $7500. 
Your max contribution can be $22500 for 2024. I would advice you to put at least $7500 so that you can benefit your employer match. If you can max out 401k ($22,500) it’s even better. However you need to know if you need this money later you will have to pay tax + 10% additional penalty tax for early withdrawal.

Usually your employer money gets vested after certain time. Check with your employer on vesting period. Means if vesting period is 3 yrs it means you have to be in the company for 3 yrs at least to get your employer match of 5% salary for 3 yrs. In this case it’s $7500+$7500+$7500 assuming your salary is 150k for all 3 yrs.