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FL BCBS plans
Old 03-19-2020, 11:54 AM   #1
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FL BCBS plans

I am about to enroll in Florida BCBS for April 1 (special enrollment due to a move from TX where the health insurance options are awful).

I have no health conditions (that I know of), rarely use health services, have no prescriptions. I am really looking for catastrophic insurance rather than prepaid health care.

I do not get ACA subsidies.

My best options appear to be (monthly premium / deductible / out-of-pocket max):
  • Blue Select Bronze 1452 . . . . . . . . ($762 /$8150 /$8150)
  • Blue Select Silver 1836 . . . . . . . . .($773 /$5800 /$8150)
  • Blue Select Bronze (HSA) 1735 . . . .($805 /$6000 /$6000)
My instinct is to go with the Bronze HSA.

I assume that if I take an HSA policy for April-Dec (9 months) I will be able to make a 2020 HSA contribution of 75% of HSA+catch-up. Correct? My current 2020 poloicy is not an HSA policy

Thoughts?
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Old 03-19-2020, 12:03 PM   #2
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I have 1735, and no complaints. I don't know the catch up HSA rules myself as I've not had to look into them. I have my HSA with Fido.
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Old 03-19-2020, 12:36 PM   #3
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The catch-up rules allow an additional $1000 per year in contribution. I am searching now for the "partial year" rule.

My HSA (from prior years) was/is at HSAdministrators. Two weeks ago I initiated the transfer to Fido, which may take a month or more due to welll-known heel-dragging at HSA.
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Old 03-19-2020, 12:41 PM   #4
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HSA contributions and catch-up are prorated, so if start date is 4/1 the contribution is 75% of the full year max allowable.
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Old 03-19-2020, 12:45 PM   #5
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Originally Posted by MichaelB View Post
HSA contributions and catch-up are prorated, so if start date is 4/1 the contribution is 75% of the full year max allowable.
Last-Month Rule
If you become eligible by December 1, you can contribute up to the contribution limit for the calendar year
(in our example, up to the full $3,550 rather than only $591.66). You must remain HSA-eligible through the
“testing period” (through the end of the following calendar year). If you lose eligibility before the end of the
testing period for any reason other than disability or death, any contributions in excess of the pro-rated
amount (up to $2,958.33) are included in your taxable income and subject to an additional 10% penalty...

MB - Your method is one option. Either work.
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Old 03-19-2020, 01:03 PM   #6
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Thanks, MichaelB and Z3Dreamer.

I also found the rules in a couple of places, so my temptation will be to contribute 75%, wait until I see what plan I will have in 2021, and if it is also HSA eligible, contribute the remaining 25% for 2020 before 4/15/2021.

So now, does anyone have thoughts on the merits of the three plans? Or rather, why should I NOT go with the HSA-eligible plan? I need to move forward in the next day or so with the application.
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