Hdhp Family Deductible
March 3rd, 2010
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Question: High Deductible Health Plan Good or Bad?
I have a new option of the HDHP vs a PPO at work. These are the numbers I have come up with so far. Last years total out of pocket $5700 including premiums and co-pays. The HDHP is offered with all preventive medical and prescriptions at 100%, $1500/3000 deductible and $3000/6000 max out of pocket. A $2000 contribution to a HSA by the employer. With the PPO I would pay $3300 in premiums next year. So I figure those two together in a HSA would be $5300. About $3500 of last years costs would be covered as preventative under the new plan. So I see a net savings of about $1800. Something seems to good to be true here. Anyone been down this road yet and willing to lend some insight? Family is 2 40yr olds and 3 and 9 year old girls.
Answer: High deductible plans are okay for someone who doesn’t go to the doctor much. Your goal is to have the least amount of money out of pocket – including premiums. Okay, so your premiums are cheaper and the HSA employer contribution helps a bit. But, remember, if you go with the HDHP, you also have to shell out $3000 to $6000 before the insurance picks up a dime. With younger kids, it might not be a wise plan. Granted, your girls are over the age where they go for shots every other month, but still – kids don’t get sick once a year. You need to look at the whole picture. Think about how many times your family has sought medical care over the last few years. If it’s only the once a year checkup thing and the odd sick visit, the HDHP might be worth it.
Items on Amazon Right Now for Hdhp Family Deductible:
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HSA eligibility when spouse has non-HDHP family coverage.(health savings account, high-deductible): An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on June 1, 2005. The length of the article is 843 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: … |
Consumers Roundup: More Patients Choose High-Deductible Plans; Many Neglect Doctors’ Medication Directions
A number of news outlets explores consumer health issues. The (Milwaukee) Business Journal: “The number of Americans enrolled in high-deductible health plans has risen to more than 10 million but still represents a small portion of the insurance market, according to a report from insurance group America’s Health Insurance Plans. Enrollments in these high-deductible health plans (HDHP), which …
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Tags: finance, hdhp family deductible, health, healthcare, hsa, insurance