CoolChange
Full time employment: Posting here.
- Joined
- Apr 11, 2006
- Messages
- 969
I am considering whether I would be be wise to pursue an individual HSA plan at some point this year, near the end if still employed, before the 2014 Patient Protection and Affordable Care Act (PPACA, Obamacare) changes take effect.
My situation:
My current thinking is that if a PPACA policy is a better deal for me down the road that I can always move that direction at a later date; but, this may be my last chance to obtain a really low cost HSA eligible grandfathered policy.
Am I missing something important with this plan? Does anyone else see landmines that I may be missing? I have seen a few other posts mentioning a similar approach, including the one clipped below, but no warnings/naysayers/etc. So, am I just being overly cautious/concerned?
My situation:
- I am currently covered by my employer's HSA plan; but, I expect that to end either this year or next.
- I am actually hoping to join the class of 2013 or 2014 as ESR/consulting to ease myself into full time ER.
- If cost savings are significant without fear of attrition (other companies doing the same thing), my employer (well less than 50 employees) end this benefit even if I stay.
- Mid-40's with no known health issues living in a state with relatively low health insurance premiums for BC/BS HSA policies (which I just discovered last year thanks to others here).
My current thinking is that if a PPACA policy is a better deal for me down the road that I can always move that direction at a later date; but, this may be my last chance to obtain a really low cost HSA eligible grandfathered policy.
Am I missing something important with this plan? Does anyone else see landmines that I may be missing? I have seen a few other posts mentioning a similar approach, including the one clipped below, but no warnings/naysayers/etc. So, am I just being overly cautious/concerned?
...
What we have picked was in the private market for $506/month - with the same company as we have had so we can keep our Doctors. We like them and they took a long time to find. This coverage is also HSA eligible has a $10,000 deductible and a 25% co-pay up to the $11,200 OOP max. we have never hit the $3000 deductible and obviously hope not to . Note to those who might wonder - I am being charged a 10% ($23/month ) "medical rate up " because of my medications - which total less than $100/ month - and I pay for as long as we do not hit the deductible.
The decision to forgo cobra coverage (besides not intending to hit the deductible) was the thought that we might be better off getting into a plan before the PPACA kicks in next year . I thought it just might give us more options this year and get us in a group that needed to under go underwriting- perhaps mitigating cost increases going forward to some degree. (hey I can hope ) If wrong we can change later.
.....