Medical Insurance (Affects of Inflation)

[Konebhar6]

I was enrolled in Employer based Insurance where I did not have to contribute anything. Doc Visits were $20 copay and Tests were $10 copay. For next year they made changes and charging $120 per paycheck. 

They introduced a new 0$ HSA Plan where my contribution is 0 but have to pay full amount until my limits are reached. $4000 per person max limit and $8000 per family. Company is contributing $750 and I can contribute upto $8300. 

Did some reading on this  but dilemma on how much to contribute to HSA. 

Thoughts?

[shaktimaan]

We put 4k for HSA and company contributes 1k. UHC premium hsa is $240 per paycheck. I think  Deductible is $1600/$3200

[Konebhar6]

3 minutes ago, shaktimaan said:

We put 4k for HSA and company contributes 1k. UHC premium hsa is $240 per paycheck. I think  Deductible is $1600/$3200

Our deductible limits are higher. 3200 per person and 10% after that. 4000/8000 max out of pocket limits. Friend is tempting me to max out HSA to get tax benefits.

[shaktimaan]

12 minutes ago, Konebhar6 said:

Our deductible limits are higher. 3200 per person and 10% after that. 4000/8000 max out of pocket limits. Friend is tempting me to max out HSA to get tax benefits.

Yes, do this if your doctor visits are low and no issues. If not stick to your usual plan 

We had to pay a lot of bills last year, so moved to low deductible premium hsa plan even if it’s expensive 

[former]

40 minutes ago, Konebhar6 said:

I was enrolled in Employer based Insurance where I did not have to contribute anything. Doc Visits were $20 copay and Tests were $10 copay. For next year they made changes and charging $120 per paycheck. 

They introduced a new 0$ HSA Plan where my contribution is 0 but have to pay full amount until my limits are reached. $4000 per person max limit and $8000 per family. Company is contributing $750 and I can contribute upto $8300. 

Did some reading on this  but dilemma on how much to contribute to HSA. 

Thoughts?

If you are single go with high deductible HSA

if you are family and no kids plan go with high deductible HSA

if you are family and kids planning go with PPO (co pay)

if you are family and kids are less than 2 yrs go with PPO (co pay)

if you are family and kids are older than 2 yrs, go with low deductible HSA with max out HSA.

If you bit old and need prescription drugs daily basis go with PPO.

Remember, once you are in HSA stick to HSA 3 years to average out the medical bills per year.

 

 

[Sharmilaaa]

37 minutes ago, Konebhar6 said:

Our deductible limits are higher. 3200 per person and 10% after that. 4000/8000 max out of pocket limits. Friend is tempting me to max out HSA to get tax benefits.

2 jobs 6 months cheste max out HSA and 5000 on 401k.

one year 2 jobs chesthe max out HSA and 401k

[Sharmilaaa]

6 minutes ago, former said:

If you are single go with high deductible HSA

if you are family and no kids plan go with high deductible HSA

if you are family and kids planning go with PPO (co pay)

if you are family and kids are less than 2 yrs go with PPO (co pay)

if you are family and kids are older than 2 yrs, go with low deductible HSA with max out HSA.

If you bit old and need prescription drugs daily basis go with PPO.

Remember, once you are in HSA stick to HSA 3 years to average out the medical bills per year.

 

 

why anna

[Konebhar6]

18 minutes ago, former said:

If you are single go with high deductible HSA

if you are family and no kids plan go with high deductible HSA

if you are family and kids planning go with PPO (co pay)

if you are family and kids are less than 2 yrs go with PPO (co pay)

if you are family and kids are older than 2 yrs, go with low deductible HSA with max out HSA.

If you bit old and need prescription drugs daily basis go with PPO.

Remember, once you are in HSA stick to HSA 3 years to average out the medical bills per year.

 

 

I am going with the highlighted plan and your suggestion is same. Thanks. 

See the inflation effects. The plan we had where we were paying $0 copay is costing $120 per paycheck now. 

[Konebhar6]

39 minutes ago, shaktimaan said:

Yes, do this if your doctor visits are low and no issues. If not stick to your usual plan 

We had to pay a lot of bills last year, so moved to low deductible premium hsa plan even if it’s expensive 

Yeh that part I am clear. If not many doctor visits go for cheaper ones. HSA is being offered new. Had to go through the prospectus 2-3 times to get clarity. 

I guess I have to go get all my medical tests done before this year. Also take all mediciations.

[vetri]

1 hour ago, Konebhar6 said:

I was enrolled in Employer based Insurance where I did not have to contribute anything. Doc Visits were $20 copay and Tests were $10 copay. For next year they made changes and charging $120 per paycheck. 

They introduced a new 0$ HSA Plan where my contribution is 0 but have to pay full amount until my limits are reached. $4000 per person max limit and $8000 per family. Company is contributing $750 and I can contribute upto $8300. 

Did some reading on this  but dilemma on how much to contribute to HSA. 

Thoughts?

Kaiser?

[Konebhar6]

2 minutes ago, vetri said:

Kaiser?

yes

[former]

14 minutes ago, Konebhar6 said:

I am going with the highlighted plan and your suggestion is same. Thanks. 

See the inflation effects. The plan we had where we were paying $0 copay is costing $120 per paycheck now. 

Your employer plan is very good even though it is 120 per paycheck.

[former]

28 minutes ago, Sharmilaaa said:

why anna

If you max out 3 years in row, after that you don't need to max out HSA. The carry over money from prev years will cover the medical bills.

[manadonga]

Max out hsa it is tax free 

one of my friend max outed has for 10 yrs from bachiler time he have 100know from kids onwards he is not paying medical insurance he is choose zero insurance with hsa and not contributing to hsa as he already have 100k he is invested that so it grown alot 

[manadonga]

All health insurances are increased alot next year inflation 50% for the plan i take from

my employer