HSA

I'm doing one. Anyone else have one?

 

Hairy Stinking Ass?

 

I guess nobody has one.

Health SAvings account. A type of PPO ( that's health insurance ).

 

I have a HRA (health reimbursement account). It kicks ass.

My mom has the HSA. She tells them how much to take out of her check, and she can will any left over if God forbid something happened to her. Her deductible is high, but she never met it before. She really likes it.

 

I'm enrolling into one with my new job. Start 2/21. I never go to the doc. The company will put away most of my deductable over the course of the year. As opposed to contributing anything on top of that, I'll put away $100 or so a month into savings, pull from it if neccesary. If you leave your ppo, you can get the $$ out, but its subject to fees/penalty. (i think you can roll over)

For me, it makes much more sense than a pos. With the difference in premiums, plus what the firm contributes, it is almost impossible for me to come out worse off.

Seems like a no brainer. The only thing, make sure you have the financial means to take the annual maximum hit upfront, should something catostrophic come along in the first few months. For me, thats 3k.

 

I plan on 'funding' mine entirely. The deductible plus premiums is less than my current premium, and the HSA has zero copay or co-insurance once the deductible is met. Plus, the entire deductible is a write off.

We figure to save about $2k this year.

 

Yup, nice tax benifit. I think i'll save about the same. My plan is only 80/20 once the deductable hits, but I honestly don't see myself reaching that. I'm protected in case of something big without throwing so much cash away monthly on my premium.