I just joined a new employer this week and am a bit confused about what I should do for healthcare. For starters, I would like to keep investing into my HSA that I started investing in with my previous employer, but I’m not able to do that under my current employer’s plans. My main purpose for the HSA is for investment purposes as it’s double tax sheltered.
My current employer has the following premiums for their HMO and PPO plans for individuals – these are the premiums (pre-tax) I would pay for individual coverage after they cover 50% of the the premium cost:
HMO: $351.54/month PPO: $364.52/month
Now with both of these plans, there’s a $3000 deductible, last $1000 of which is reimbursed by the employer. While these deductibles are technically qualified as HDHPs, I can’t actually contribute to an HSA as the out of pocket maximum for these plans is $8,500 which is greater than the HSA Out of pocket max of $7,000.
My other option is to get an HMO with HSA from the marketplace. The plan I am thinking of has similar coverage to the employer plans, and would cost $271/month for premium (post-tax), and I would be able to contribute to an HSA. Similar to the employer-sponsored plans, I would have a $3000 deductible but I would lose out on the $1000 reimbursement from my employer.
Overall, my healthcare needs are fairly basic. I’ll be doing my typical preventative health meetings and then I have a psychiatrist who I go to for my ADHD med prescriptions.
Based on this information, would it be worth going private to be able to keep contributing to my HSA? Am I missing some really pertinent information?
submitted by /u/sam12009
[link] [comments]I just joined a new employer this week and am a bit confused about what I should do for healthcare. For starters, I would like to keep investing into my HSA that I started investing in with my previous employer, but I’m not able to do that under my current employer’s plans. My main purpose for the HSA is for investment purposes as it’s double tax sheltered. My current employer has the following premiums for their HMO and PPO plans for individuals – these are the premiums (pre-tax) I would pay for individual coverage after they cover 50% of the the premium cost: HMO: $351.54/month PPO: $364.52/month Now with both of these plans, there’s a $3000 deductible, last $1000 of which is reimbursed by the employer. While these deductibles are technically qualified as HDHPs, I can’t actually contribute to an HSA as the out of pocket maximum for these plans is $8,500 which is greater than the HSA Out of pocket max of $7,000. My other option is to get an HMO with HSA from the marketplace. The plan I am thinking of has similar coverage to the employer plans, and would cost $271/month for premium (post-tax), and I would be able to contribute to an HSA. Similar to the employer-sponsored plans, I would have a $3000 deductible but I would lose out on the $1000 reimbursement from my employer. Overall, my healthcare needs are fairly basic. I’ll be doing my typical preventative health meetings and then I have a psychiatrist who I go to for my ADHD med prescriptions. Based on this information, would it be worth going private to be able to keep contributing to my HSA? Am I missing some really pertinent information? submitted by /u/sam12009 [link] [comments]Read Morer/HealthInsurance