HSA?

[Irving Patrick Freleigh]

I got my benefits packet in the mail this weekend. The cost of the medical insurance plan I currently have went way the hell up. Unfortunately my wages did not go way the hell up with it.

So, to maybe save a bit of money, I'm looking into enrolling in a different plan that includes a HSA. The company would contribute $400, spaced over my paychecks for the year, that I could use toward deductibles and such, and anything I don't spend rolls over to the next year.

Under this plan, deductibles would be higher, but I don't plan on having any major procedures done, and would like to start saving money toward future medical expenses since I live pretty much paycheck-to-paycheck anyway.

So would this be a good idea, or would I be better off paying more for my current plan just to keep the deductibles down?

[Aethian]

Yours rolls over? You lucky dog you. HSA's are funded by pre tax dollars so you have to keep that in mind too.

[blas]

I'm in the same boat as you, Irv. Last week's paycheck was the very first of our "new" benefit package this year, meaning the adjustments in prices and whatnot.

I was befuddled. I had overtime on there. I didn't miss any work or take any days off. It was still nearly $50 less than it should be.

Then I got to work and everyone was bitching. Lord, it nearly doubled in price!

I'm not even sure what an HSA is, but if it works for you, PM me sometime and I may consider it as well. Is it anything like a flex spending account?

[Aethian]

HSA = Health Savings Account

[blas]

That's interesting. It's a little late now for me, but I'll have to go dig through my paperwork from our health fair we had in August and think of it for next year.

[Irving Patrick Freleigh]

Yours rolls over? You lucky dog you. HSA's are funded by pre tax dollars so you have to keep that in mind too.

You sure you're not thinking of a flex spending account? Those normally don't roll over.

I think the HSA plan is what I'm going to go for this year, but I can't officially sign up for another week. I think in addition to the $400 the company provides a year I'm going to set it up so I can have a little extra taken out of my checks to get that number up higher.

In the meantime, if anybody wants to convince me otherwise, I'm open to it.

[Aethian]

No ours is a retarded HSA that allows the post office to see what were spending the money on that doesn't roll to the next year. *sigh*

[shankyknitter]

I remember this well. I have no idea what my father is doing at the moment for insurance but he works for a health insurance company and his rates went from $75 p/mo for the whole family to $550 p/mo for the whole family and our deductibles increased. I watched my birth control go from $45 to $100 over the course of three months.

I'd go for the HSA Irv.