TravelinFamilyMan
Dryer sheet wannabe
Greetings,
I live in the great state of Illinois. Our family is enrolled in a Bronze Blue Cross PPO plan with a high deductible ($17,100 / family and $6,100 / individual). Has some perks like two $40 office visits and the usual preventative things are no charge, like all ACA plans.
There is another, nearly identical plan BCBS PPO which is $150 / month more than the previous plans, but as would be expected, has lower deductibles ($13,500 family / $4500 individual) This plan, however qualifies for HSA which my current plan does not.
We are all relatively healthy and DW and me have typical issues of folks in mid 50s. We did have to take DD to the ER last year and have about $3,000 in out of pocket expenses! (yuk, hopefully that won't happen again).
Is it worth the additional $1800 in premium payments to reduce the out of pocket risk a bit (no in my opinion - it basically a wash) AND to get to put money in an HSA which has triple tax advantages? (not sure) Note our top tax bracket for 2021 will be at 22% for about $10,000 of that top income.
Thanks !
I live in the great state of Illinois. Our family is enrolled in a Bronze Blue Cross PPO plan with a high deductible ($17,100 / family and $6,100 / individual). Has some perks like two $40 office visits and the usual preventative things are no charge, like all ACA plans.
There is another, nearly identical plan BCBS PPO which is $150 / month more than the previous plans, but as would be expected, has lower deductibles ($13,500 family / $4500 individual) This plan, however qualifies for HSA which my current plan does not.
We are all relatively healthy and DW and me have typical issues of folks in mid 50s. We did have to take DD to the ER last year and have about $3,000 in out of pocket expenses! (yuk, hopefully that won't happen again).
Is it worth the additional $1800 in premium payments to reduce the out of pocket risk a bit (no in my opinion - it basically a wash) AND to get to put money in an HSA which has triple tax advantages? (not sure) Note our top tax bracket for 2021 will be at 22% for about $10,000 of that top income.
Thanks !