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We're considering switching from the low-deductable plan this year to a high-deductable plan and an HSA this year.

Any feedback on experiences with either, but specifically a high-deductable plan?

Hubby did the math and seems as though that plan would actually save us a bit, but I'm wondering if we're missing something.

Thanks!

Mal - we switched to the HD with an HSA at my office at the first of the year. I think it works great 'cuz you don't have to fuss with co-pays and that crap. As a side note - I met my deductible before the end of January this year so it's been awesome not paying for any other visits or tests or prescriptions. Now just have to remember to make my annual physical before the end of the year so I won't have to pay for those either

if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

yup - that's what happened to me in January

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

i think that's what we're hoping to do. it would be just our luck...

we figured if we had the HD plan the year we were dealing with MRSA and diagnosing celiac that we would have made out like bandits! we would have reached our out-of-pocket max by the beginning of may and wouldn't have had to pay anything else for the year.

PHAW Webmistress wrote:

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

yup - that's what happened to me in January

one of my golf buddies got a scorpion sting 3 weeks ago, (think bee sting) one trip to the emergency room to make sure it wasn't a brown recluse spider bite and 3 hrs later he had a $2200 bill in his hand....

buffettbride wrote:

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

i think that's what we're hoping to do. it would be just our luck...

we figured if we had the HD plan the year we were dealing with MRSA and diagnosing celiac that we would have made out like bandits! we would have reached our out-of-pocket max by the beginning of may and wouldn't have had to pay anything else for the year.

just make damn sure pre-existing conditions are covered.

AlbatrossFlyer wrote:

buffettbride wrote:

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

i think that's what we're hoping to do. it would be just our luck...

we figured if we had the HD plan the year we were dealing with MRSA and diagnosing celiac that we would have made out like bandits! we would have reached our out-of-pocket max by the beginning of may and wouldn't have had to pay anything else for the year.

just make damn sure pre-existing conditions are covered.

yep. they are. it's actually the same insurance company we currently have, just a HD plan rather than a low.

hubby had never looked at the actual #'s for our health care statements before. we downloaded them for the last 2 years last night and he's decided he's never going to the doctor again.

AlbatrossFlyer wrote:

PHAW Webmistress wrote:

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

yup - that's what happened to me in January

one of my golf buddies got a scorpion sting 3 weeks ago, (think bee sting) one trip to the emergency room to make sure it wasn't a brown recluse spider bite and 3 hrs later he had a $2200 bill in his hand....

oh and then he got a separate bill for $900 from the dr.

AlbatrossFlyer wrote:

AlbatrossFlyer wrote:

PHAW Webmistress wrote:

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

yup - that's what happened to me in January

one of my golf buddies got a scorpion sting 3 weeks ago, (think bee sting) one trip to the emergency room to make sure it wasn't a brown recluse spider bite and 3 hrs later he had a $2200 bill in his hand....

oh and then he got a separate bill for $900 from the dr.

victoria's celiac dianosis? $30,000.

AlbatrossFlyer wrote:if you do switch, you might want to open a bank account with total family deductible squirreled away in it. that way you'll won't be in a pinch if something happens and you need to pay the whole deductible at once. one emergency room visit and you could end up with a couple thousand $$ bill.

that's what the HSA is for. if you put it in a regular account, you won't get the same tax savings. on the other hand, once you deposit it into the HSA, you won't be able to spend it on anything other than medical expenses and retirement without having to pay a penalty (similar to an IRA).

Oh yeah. This HSA thing. I like it better than an FSA because it's not "use it or lose it."

Is it all paper-claim filing or do they give you the "heath savings visa" type thing? Little of both?

We're slackers so I'm not sure paper claims are our thing.

and it's only a matter of time before boy wonder breaks an arm or a leg, or splits his head open, or burns his hand playing with firecrackers, or, or, or......

AlbatrossFlyer wrote:and it's only a matter of time before boy wonder breaks an arm or a leg, or splits his head open, or burns his hand playing with firecrackers, or, or, or......

he's already had stitches in his lip, infectious disease, peanut allergy, and three rock-in-nose episodes (the most recent on monday).


boys.

buffettbride wrote:Oh yeah. This HSA thing. I like it better than an FSA because it's not "use it or lose it."

Is it all paper-claim filing or do they give you the "heath savings visa" type thing? Little of both?

We're slackers so I'm not sure paper claims are our thing.

you will prolly get a visa/mc debit card with the account. you will be able to pay for medical expenses with that. however, it's better to file a claim in case you meet your deductible. that way you won't have to prove that you did.

pema wrote:

buffettbride wrote:Oh yeah. This HSA thing. I like it better than an FSA because it's not "use it or lose it."

Is it all paper-claim filing or do they give you the "heath savings visa" type thing? Little of both?

We're slackers so I'm not sure paper claims are our thing.

you will prolly get a visa/mc debit card with the account. you will be able to pay for medical expenses with that. however, it's better to file a claim in case you meet your deductible. that way you won't have to prove that you did.

Okay. Let's say that we start the HSA and start contributing. Then, in January, my son jumps off the playground equipment and breaks his leg. We get a bill for $2000, but obviously we have not yet contributed that amount to the HSA yet.

Would we then pay with out-of-pocket funds instead of our HSA funds?

you still have time to get to nebraska....


http://www.cnn.com/2008/US/11/14/nebras ... index.html

buffettbride wrote:

pema wrote:

buffettbride wrote:Oh yeah. This HSA thing. I like it better than an FSA because it's not "use it or lose it."

Is it all paper-claim filing or do they give you the "heath savings visa" type thing? Little of both?

We're slackers so I'm not sure paper claims are our thing.

you will prolly get a visa/mc debit card with the account. you will be able to pay for medical expenses with that. however, it's better to file a claim in case you meet your deductible. that way you won't have to prove that you did.

Okay. Let's say that we start the HSA and start contributing. Then, in January, my son jumps off the playground equipment and breaks his leg. We get a bill for $2000, but obviously we have not yet contributed that amount to the HSA yet.

Would we then pay with out-of-pocket funds instead of our HSA funds?

it would be better tax wise to deposit the money into the HSA when you receive the bill, and then pay the bill from the HSA. you can make additional deposits above your payroll deduction contribution and claim those on your tax return at the end of the year.

buffettbride wrote:

AlbatrossFlyer wrote:and it's only a matter of time before boy wonder breaks an arm or a leg, or splits his head open, or burns his hand playing with firecrackers, or, or, or......

he's already had stitches in his lip, infectious disease, peanut allergy, and three rock-in-nose episodes (the most recent on monday).


boys.

Explain please.

pema wrote:

buffettbride wrote:

pema wrote:

buffettbride wrote:Oh yeah. This HSA thing. I like it better than an FSA because it's not "use it or lose it."

Is it all paper-claim filing or do they give you the "heath savings visa" type thing? Little of both?

We're slackers so I'm not sure paper claims are our thing.

you will prolly get a visa/mc debit card with the account. you will be able to pay for medical expenses with that. however, it's better to file a claim in case you meet your deductible. that way you won't have to prove that you did.

Okay. Let's say that we start the HSA and start contributing. Then, in January, my son jumps off the playground equipment and breaks his leg. We get a bill for $2000, but obviously we have not yet contributed that amount to the HSA yet.

Would we then pay with out-of-pocket funds instead of our HSA funds?

it would be better tax wise to deposit the money into the HSA when you receive the bill, and then pay the bill from the HSA. you can make additional deposits above your payroll deduction contribution and claim those on your tax return at the end of the year.

i'm hearin' that. but if we haven't already contributed enough to the HSA via payroll deduction, we'd have to add MORE to the HSA outside of the payroll deduction and THEN pay the bill.

do i get it?