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Old 01-26-2011, 10:55 PM   #21
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[QUOTE=MooreBonds;1029371]The basic requirement is that you are responsible for 100% of all costs up to your deductible (free annual wellness visits do not apply), and once you reach your deductible, the 0% co-insurance kicks in and you pay 0% after the deductible, with a minimum of a $1,000 deductible.

umm...my plan does have some coverage benefits for doctors visits, dental,vision... etc. But since I'm basically responsible for the $3,500 and the 0% co-insurance kicks in at that point.....I shouldn't have any out of pocket after that anyway.
Still..am thinking I will investigate again since premiums and deductibles have skyrocketed the last several years.
I'm thinking mine does not technically qualify but might be worth looking into again. This thread reminded me ....to take another look.
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Old 01-27-2011, 08:20 AM   #22
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But since I'm basically responsible for the $3,500 and the 0% co-insurance kicks in at that point.....I shouldn't have any out of pocket after that anyway.
So you'd think. But then you go in for surgery for a pre-approved procedure at an in-network hospital with an in-network doctor and you have every reason to think you're financial exposure is capped at $3,500. But then you find out that the anesthesiologist isn't "in-network" and neither is the lab they sent your blood work to. Then you find out that this "in-network" hospital is charging you 20% more than what the insurance company views as "reasonable and customary." When you get out of the hospital, you discover that your prescriptions aren't covered and neither is your physical therapy.

So instead of a $3,500 bill, you end up with a $20,000 one. And that is with "good" insurance.

Better to have cash set aside than to rely completely on some third party payor who writes the rules in a way designed to collect premium dollars and then avoid paying claims.
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Old 01-27-2011, 08:52 AM   #23
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I am certain you are right - GoneforGood as the devil always seems to be in the details. Details one doesn't really see or can't reasonably know about until it happens. My insurance has always performed as expected. I was put in the hospital for pnuemonia a couple of years ago and they paid all of it. Of course that didn't take an anesthesiologist but I think I do remember a bill from the lab I had to pay. Investigating HDHPs is my next project. I say "project" because Anthem took forever to get me changed from Flexible Choice to Premier this year.
Again, thanks to this "thread" for reminding me!
Sandra
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Old 01-27-2011, 09:22 AM   #24
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Remember that HSA contributions are deductible on your 1040 if you use post-tax dollars. I don't know if your pre-tax HSA dollars are still hit by Social Security/Medicare or not...
If your HSA contributions come from a qualified "Section 125" cafeteria benefits plan through payroll deductions (as mine are, fortunately), HSA contributions are indeed exempt from SS and Medicare taxes. As I understand it, any other contributions would be subject to those taxes.
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Old 01-28-2011, 01:17 AM   #25
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It sounds like you're in relatively good health. Given that, I'd strongly suggest you look at getting quotes on your own individual policy. Healthy young workers are what drive down the group cost for the workers who are older and/or have high healthcare expenditures - you could easily find substantial savings for getting your own individual high deductible policy, even after factoring in the tax benefit of buying it through your employer (and you can set up your own HSA account on your own regardless of whether your policy is through your employer or yourself).
My HDHP premium through work is only $7 a month. I don't think I'll find anything cheaper than that on the open market in an individual policy.
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Old 01-28-2011, 08:08 AM   #26
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My HDHP premium through work is only $7 a month. I don't think I'll find anything cheaper than that on the open market in an individual policy.
You still working I assume?

Once retired, my megacorp will charge what it costs them: ~$550
Same policy if still working: $0
Individual market if I didn't have any pre-existing conditons: ~$225

TJ
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Old 01-28-2011, 10:00 AM   #27
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If your HSA contributions come from a qualified "Section 125" cafeteria benefits plan through payroll deductions (as mine are, fortunately), HSA contributions are indeed exempt from SS and Medicare taxes. As I understand it, any other contributions would be subject to those taxes.
You are correct.

DD
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Old 02-01-2011, 07:13 PM   #28
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I keep telling my insurance company that my premium payments come out of my pocket, but they don't want to listen.
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