iam21177
Recycles dryer sheets
- Joined
- May 26, 2011
- Messages
- 159
I am considering opening an HSA (Health Savings Plan) through my work. My husband and I recently got married and we work for the same university. He is on the HDHP ($1500 deductible, then 20% kicks in) and has an HSA that he maxes yearly.
Currently, I pay monthly premiums and have a good Rx discount of $5 for 90 days of generic ($750 deductible). For the year, I pay $259.60 total ($219.60 in premiums and $40 for two Rx). Office visits (non-preventative care) are $35 after deductible is met.
If I were to open my HSA , I’d have to pay full price for these two Rx that I take regularly, so probably looking at $541 yearly for the Rx. So I'd be paying $281 more but gaining an HSA.
We can do a dual coverage plan as married university employees (no more HSA contributions though), we get super low deductible ($350/pp), $1.25 Rx for 90 days, and non-preventative office visits are $10, and premiums of $494 for the year. HR likes to push this plan vehemently, but we are trying to do the calculations to see if it's right for us (we'd loose this HSA option).
With all plans, preventative health care is free (vision, hearing, gyn).
Do we visit the doctor a lot?
My husband (age 34)? Rarely.
Me (age 36)? I had have years when I went a lot (had some weird anaphylactic reaction and about 20 emergency room visits one year :|), but lately, as in the past 5 years, I’ve been very healthy thankfully.
We can change plans yearly during open enrollment.
1. So should we both do the HSA and utilize this triple tax advantage account, but cough up monthly for my full cost Rx and any surprise doctor/ER visits?
2. Alternatively he’d keep his HSA, I'd keep my plan with the cheap Rx, and I’d put my money in a pre-tax 403b instead.
3. Both of us get on the dual coverage discounted plan (with premiums), but no more HSA contribs (money can go to pre-tax 403b instead).
[Other retirement info: we currently max out two ROTHs, two 457b and his HSA, plus two employer funded 401a.]
Currently, I pay monthly premiums and have a good Rx discount of $5 for 90 days of generic ($750 deductible). For the year, I pay $259.60 total ($219.60 in premiums and $40 for two Rx). Office visits (non-preventative care) are $35 after deductible is met.
If I were to open my HSA , I’d have to pay full price for these two Rx that I take regularly, so probably looking at $541 yearly for the Rx. So I'd be paying $281 more but gaining an HSA.
We can do a dual coverage plan as married university employees (no more HSA contributions though), we get super low deductible ($350/pp), $1.25 Rx for 90 days, and non-preventative office visits are $10, and premiums of $494 for the year. HR likes to push this plan vehemently, but we are trying to do the calculations to see if it's right for us (we'd loose this HSA option).
With all plans, preventative health care is free (vision, hearing, gyn).
Do we visit the doctor a lot?
My husband (age 34)? Rarely.
Me (age 36)? I had have years when I went a lot (had some weird anaphylactic reaction and about 20 emergency room visits one year :|), but lately, as in the past 5 years, I’ve been very healthy thankfully.
We can change plans yearly during open enrollment.
1. So should we both do the HSA and utilize this triple tax advantage account, but cough up monthly for my full cost Rx and any surprise doctor/ER visits?
2. Alternatively he’d keep his HSA, I'd keep my plan with the cheap Rx, and I’d put my money in a pre-tax 403b instead.
3. Both of us get on the dual coverage discounted plan (with premiums), but no more HSA contribs (money can go to pre-tax 403b instead).
[Other retirement info: we currently max out two ROTHs, two 457b and his HSA, plus two employer funded 401a.]
Last edited:
