5 ms·

I think the value of this really depends on the employer. At a previous role they started switching to an HDHP with an HSA and did a great job (initially) maki

by apohn 7y ago

I think the value of this really depends on the employer. At a previous role they started switching to an HDHP with an HSA and did a great job (initially) making that fairly attractive versus the low deductible plan with higher premiums. At my current employer, the deductible per person is close to $4000 and the family limit is ~$10K. The employer provides some money if you have an HRA, but very little if you take the HSA. The premium savings from the low deductible plan (which isn't available any longer) really doesn't make up for the higher deductibles. All it takes is one small series of events (e.g. a complicated pregnancy) for $10K to go out the window. If these series of events happens from December - January, that's 2 years of deductibles out of your pocket. I work for a huge company and I'm surprised the insurance is so expensive. For the first time in my life I think one of major criteria of my next job will be the healthcare benefits. Previously I was just happy to have insurance - no longer.

IronWolve 7y ago
Same, Work switched to HSA medical. Pre-ACA single employee had basically medical paid by work, Post-ACA, they moved to an HSA (almost mandatory I guess) that work kicks in money per paycheck. BUT, now I have to match the minimum and have a high 8k deductible. So everyone just took a pay cut post-ACA, and if we use the medical, we even pay more. No more co-pays, I have to pay full price doctors visits. Its easier for me to go to urgent care, say I dont have medical insurance, so I get a cheaper uninsured rate, then submit my medical care expense to my HSA for reimbursements, then if I hit the yearly deductible, claim I have insurance.
- apohn 7y ago
  Something that really frustrates me about my current HDHP/HRA plan is that it feels like it only makes sense if somebody in the family has a minor issue(e.g. the flu) that is covered by the few hundred dollars the employer puts in the HRA, or if somebody has a major medical issue that would have destroyed our savings. Between those two extremes, the value of having insurance is just all the mysterious insurance "adjustments" on every medical bill. As you pointed out, there are probably lots of situations where saying I have no insurance makes more sense from a financial standpoint.

by apohn 7y ago

IronWolve 7y ago

Same, Work switched to HSA medical. Pre-ACA single employee had basically medical paid by work, Post-ACA, they moved to an HSA (almost mandatory I guess) that work kicks in money per paycheck. BUT, now I have to match the minimum and have a high 8k deductible. So everyone just took a pay cut post-ACA, and if we use the medical, we even pay more. No more co-pays, I have to pay full price doctors visits. Its easier for me to go to urgent care, say I dont have medical insurance, so I get a cheaper uninsured rate, then submit my medical care expense to my HSA for reimbursements, then if I hit the yearly deductible, claim I have insurance.

apohn 7y ago
Something that really frustrates me about my current HDHP/HRA plan is that it feels like it only makes sense if somebody in the family has a minor issue(e.g. the flu) that is covered by the few hundred dollars the employer puts in the HRA, or if somebody has a major medical issue that would have destroyed our savings. Between those two extremes, the value of having insurance is just all the mysterious insurance "adjustments" on every medical bill. As you pointed out, there are probably lots of situations where saying I have no insurance makes more sense from a financial standpoint.