It really depends. My company, you always do the high deductible. The OOP Max is only $5k compared to $13k for the other. The difference in premiums plus my employers contribution to the HSA are more than the difference between the two deductibles. The plans cover the same stuff. I don’t really get why they’re set up how they are.
HSAs are also a way to get healthy people away from wanting universal health care by catering to their self interest, just like how IRAs were intended to let people with money invest in retirement which eroded support for social security.
It depends though. If you are relatively healthy with no chronic issues (yet) and have enough saved for an emergency, it can save you a good amount of tax-free money that you can use for when you get older and sicker. That and the monthly premium is much lower than a PPO. Obviously universal healthcare is still the best option.
My company has high deductible plan with $1800 deductible and another with $3600 deductible. I just divide those by 12 and add to monthly premium when comparing against HMO/PPO plans.
Generally the lower the deductible, someone is paying more upfront. How that is split between employer and employee is unknown to me. My last two jobs have had similar high deductible plans.
HSAs are a misdirect to get you to ignore how shitty high deductible plans are. Never take the high deductible plan.
It really depends. My company, you always do the high deductible. The OOP Max is only $5k compared to $13k for the other. The difference in premiums plus my employers contribution to the HSA are more than the difference between the two deductibles. The plans cover the same stuff. I don’t really get why they’re set up how they are.
My company offers something similar, but I worry it’s a short term incentive to get more people onto HDPs and then quietly make that the only option.
HSAs are also a way to get healthy people away from wanting universal health care by catering to their self interest, just like how IRAs were intended to let people with money invest in retirement which eroded support for social security.
I save money with the HSA/high deductible. I always plan around using 100% of deductible. Premium plus HSA contribution is less than the PPO option.
I’ll never pick an 80/20 plan. They generally charge more and cover less.
And I’m an old hag and have recently got cataract surgery in both eyes, hearing aids, etc.
It depends though. If you are relatively healthy with no chronic issues (yet) and have enough saved for an emergency, it can save you a good amount of tax-free money that you can use for when you get older and sicker. That and the monthly premium is much lower than a PPO. Obviously universal healthcare is still the best option.
it’s always fine until it’s not
My company has high deductible plan with $1800 deductible and another with $3600 deductible. I just divide those by 12 and add to monthly premium when comparing against HMO/PPO plans.
I’m single and old.
Is your company paying part of the deductible? I can’t get an HSA-qualifying plan with deductible under $6000. Also single and old.
Generally the lower the deductible, someone is paying more upfront. How that is split between employer and employee is unknown to me. My last two jobs have had similar high deductible plans.