H.s.a. Simplicity
January 19th, 2009 | by Rick |
Joseph Jessome asked:
To us there really is some truth to the old saying that the less moving parts something has, the better it works.
For a lot of folks, when we compare an HSA w/ a PPO. The HSA, more often then not wins out.
My wife and I currently have one. Like a lot of folks, for years, we were “spoiled rotten” with her company provided group plan. Well, then came some pretty significant changes within the mortgage industry, and so, “Uncle Joe” got to go shopping for his own health insurance …
In terms of obtaining the best coverage / price balance possible, our particular HSA made the most sense overall.
With a PPO you have a minimum “2 person family aggregate,” with an HSA there is one deductible per family. In terms of risk pooling, this to us, is more logical. It is unlikely, and we hope to have no major medical in the family within the next calendar year. But, if there is one then at least a potential second deductible would not be a concern because the one deductible with an HSA would be satisfied by the first family member’s situation. The second would have no out of pocket.
Also, it is a more concise usage of premium dollars in that there is no coinsurance owed after the one deductible, no separate r/x deductible and no – copays.
99 times out of a 100, co – pays are not worth the additional cost required to have them as part of a health insurance plan. An H.S.A is more often than not a more effective allocation of premium dollars whether the side savings account is funded or not.
JACKIE
To us there really is some truth to the old saying that the less moving parts something has, the better it works.
For a lot of folks, when we compare an HSA w/ a PPO. The HSA, more often then not wins out.
My wife and I currently have one. Like a lot of folks, for years, we were “spoiled rotten” with her company provided group plan. Well, then came some pretty significant changes within the mortgage industry, and so, “Uncle Joe” got to go shopping for his own health insurance …
In terms of obtaining the best coverage / price balance possible, our particular HSA made the most sense overall.
With a PPO you have a minimum “2 person family aggregate,” with an HSA there is one deductible per family. In terms of risk pooling, this to us, is more logical. It is unlikely, and we hope to have no major medical in the family within the next calendar year. But, if there is one then at least a potential second deductible would not be a concern because the one deductible with an HSA would be satisfied by the first family member’s situation. The second would have no out of pocket.
Also, it is a more concise usage of premium dollars in that there is no coinsurance owed after the one deductible, no separate r/x deductible and no – copays.
99 times out of a 100, co – pays are not worth the additional cost required to have them as part of a health insurance plan. An H.S.A is more often than not a more effective allocation of premium dollars whether the side savings account is funded or not.
JACKIE
Sorry, comments for this entry are closed at this time.