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That time of year again....health plans! Tell me about your HSA please?
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Blazesyth
*yawn*
Member since 5/05 8129 total posts
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Re: That time of year again....health plans! Tell me about your HSA please?
That's why I don't bother with the FSA either. The few hundred bucks that I would save on my taxes was not worth all of the hours of claims, phone calls, paperwork, faxing and follow-ups needed.
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Posted 11/4/15 3:58 PM  |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
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Re: That time of year again....health plans! Tell me about your HSA please?
Posted by Blazesyth
That's why I don't bother with the FSA either. The few hundred bucks that I would save on my taxes was not worth all of the hours of claims, phone calls, paperwork, faxing and follow-ups needed.
FSA was SO annoying that way. I HATED having to send in the receipts for every medical expense from doctor appts to cold medicine. With the HSA you don't EVERY have to do that. I never have to send in anything and prove what I used my HSA money for. I like it much better than the FSA plus the money carries over from year to year which I like.
FYI - An HSA and your contributions to it are ALWAYS yours, you never lose that money even if you switch medical plans or leave your company. The money is always there and available to you for any and all medical expenses.
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| Posted 11/4/15 4:41 PM |
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MrsS2005
Mom of 3
Member since 11/05 13118 total posts
Name:
B
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Re: That time of year again....health plans! Tell me about your HSA please?
People shouldn't make generalizations about HSA plans. Whether it's right for you depends on the specifics of the plan, your family's usage of the plan and the out of pocket costs of each of the plans.
In general, HSA plans are beneficial for the really sick and the really healthy people. It also depends on what the deductible is, how much you are contributing towards the premium, whether and how much your employer is contributing to the deductible and what out of pocket expenses there are after you meet the deductible. Only you can decide if your specific HSA plan is right for you.
The plans I deal with in the public sector are generally cost effective when compared to the traditional co-pay plans because the premiums are cheaper, the employees pay a lower percentage towards the premium, the employer contributes at least 50% towards the deductible and the in-network expenses are either covered at 100% after the deductible is met or there is a modest co-pay just on the prescriptions. There will still be people though where it doesn't make as much sense to switch over to the HSA.
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| Posted 11/4/15 7:38 PM |
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| Pages: 1 2 [3] |
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