Anyone got a "Health Savings Account" as a health plan?

[VinnieVOL]

 
The company I work for is offering them for the first time starting January 1st.  The lower premium is obviously attractive as are the tax advantages, but it still seems like somewhat of a roll of the dice with the higher deductible.

I was just hoping to find someone who has it or has had it in the past.  If so, thoughts?  Did it turn out to be a good thing?  If not, how come?  I'm the type who does not go to the doctor very often (thankfully), but of course you never know.  And the wife and I could start trying again for a 2nd child so that could be on the horizon.

Thanks in advance!

[Volznut]

Yeah, I have it, and will have it next year.

It doesn't cost as much, and we get a company match of $400 per year to whatever we put in. I did fine, but it does have a higher deductible per family. You know what insurance is about.

It worked for us well this year.

[VOLMAN]

$2600 decrease in premiums accounts for most of the deductible, the company puts $750 in the HSA which, coupled with the premium reduction, makes up the deductible plus some and as you mentioned the tax advantages of contributing pre-tax to the HSA makes more sense for us plus once you meet the deductible it's 90/10 coverage. We also have a FSA for dental and vision. It's never going to be as good as it was 10 yrs ago thanks to O'care.   

[VinnieVOL]

My employer will put in $1200, annually.. which must be pretty good from what I've read.

The fact that we can also invest tge money after our HSA reaches $2000 seems pretty cool too.

If I do this I just have to hope nothing big happens until I have my HSA built up to be able to cover the deductible.

[MIAUTIGER]

My employer will put in $1200, annually.. which must be pretty good from what I've read.

The fact that we can also invest tge money after our HSA reaches $2000 seems pretty cool too.

If I do this I just have to hope nothing big happens until I have my HSA built up to be able to cover the deductible.

My company also gives us $1200 in our HSA. And we give additional amounts per paycheck.  And it rolls over.  I like it and with three kids, we often dip into it.  Yes, the deductibles are higher.  But the $1200 is offsets those and we still have a max payout. 

I saw some of the other comments on WHAB and we have not had any issues with IRS or anything else by using the HSA.  We will continue to use it.

[VinnieVOL]

My company also gives us $1200 in our HSA. And we give additional amounts per paycheck.  And it rolls over.  I like it and with three kids, we often dip into it.  Yes, the deductibles are higher.  But the $1200 is offsets those and we still have a max payout. 

Sounds pretty similar to what I'm being offered.  Once I built enough in the account to cover the deductible, it sounds like it would be great.

[VOLMAN]

Sounds pretty similar to what I'm being offered.  Once I built enough in the account to cover the deductible, it sounds like it would be great.

It was pretty much a wash for us with the knowns calculated, but with the traditional plan there was no potential for additional savings while with the HSA plan there are several that's basically what determined it for me.

[Volznut]

My employer will put in $1200, annually.. which must be pretty good from what I've read.

The fact that we can also invest tge money after our HSA reaches $2000 seems pretty cool too.

If I do this I just have to hope nothing big happens until I have my HSA built up to be able to cover the deductible.

yes that is very good