Post # 1
I have to make the decision on a PPO or HDHP and how much FSA or HSA to save but I can’t get any answers between my insurance, my doctors billing person or overall billing group of the hospital. You bet your life they have the info once you’ve had something done and want paid for it. The billing person pretended she didn’t understand “contracted billable amount”. How do you decide not kowing whether to fund a FSA or HSA to the max and lose it because it wasn’t that much?
I’m nervous about having kids to begin with and now this? I guess you have to get used to being broke and not having any idea what to do to have kids?
I understand not every prey is the same but they had told me the visits up to birth is all a package anyway. So why can’t they tell me what that is at least?
Post # 3
If you fund a HSA to the max and don’t use it, you can carry forward the amount forever so that is something to consider. My husband has one and we fully fund it even though I only spend about half the amount in medications so I figure the rest is around when we need it later on, even if he is in a different plan then.
Post # 4
i think it’s between $15,000 and $20,000 without insurance.
Post # 5
- Wedding: October 2011 - Bed & Breakfast
This thread from a couple of weeks ago may be helpful to you 🙂
Post # 6
I had a minor surgery that was billed $344, $48 was allowable contracted amount and I paid $8.50. I just want them to tell me in general that allowable amount for their package. The PPO is the best coverage with $4358 out of pocket max but the FSA doesn’t carry over year to year. I’m terrified of the HDHP with a $4786 out of pocket and a carryover HSA. The high deductable just scares me so much.
Post # 7
I’m debating the same thing. We want to start trying in january but if it takes a few months to concieve theres always the chance the birth wouldn’t be in 2014.
I figured out that due to the premium cost of a regular plan vs the high deductible plan with an hsa… its cheaper for me to get the high deductible HSA plan because i’m either paying an extra 100 dollars a month in premiums or i’m contributing 100 a month toward an HSA… And its the same plan coverage once the deductible is met and with the HSA i can keep that money if i don’t use it… but with the higher coverage plan I lose it no matter what.
Keep in mind that it might depend on your company but we can change our HSA elections as much as we want so long as we open the account during open election so i’m probably going to set it lower up front and higher it once we find out we’re pregnant.
But FSA you can only change i think once during a calendar year and if you don’t use it, you lose it.
Post # 8
I chose to not do an FSA/HSA because I couldn’t be sure what it would cost and you never know what might happen (not get pregnant, lose the pregnancy, etc). Mine does not carry over. I figured most likely I wouldn’t be out more than $2k or so (I have pretty good insurance), which wouldn’t be a big deal. I’d prefer that to overestimating or potentially losing money.
I would like to add childcare to mine when the time comes but that can be added after the baby is delivered (as it is a qualifying event).
Post # 9
get a hold of your hr department to find out more information about the different coverage plans available.
A high deductible plan used to scare me too so i never got one but now realizing the difference between the two a High deductible with HSA is SOO much more cost efficient for me. An HSA carries no risk like an FSA does because you can’t lose the money like you do with an FSA. I didn’t realize that. So even if i save 100 a month pre tax into my HSA and i don’t use it… then i’m not losing anything cus i can use it next year or the year after its just a savings account that you contribute too tax free.
Post # 10
HSA is a health savings account (from the IRS) so the rules with a health saving account come from the IRS not your company or your insurance provider. An HSA always carries over – its just a savings account that the government allows you to save money pre tax in and use for qualified health expenses… Once you have a certain amount in it you can even chose to invest that money so you can earn interest on what you have in that savings.
But an FSA or (flexible spending account) is from your company so they make the rules and they can chose whether or not you get to keep the money if you don’t use it – most don’t let you.
There is a big difference between the two and your company should be providing this information with you.
Post # 11
Have to decide by 4pm and the HR number is straight to voicemail. My BCBS site says a certain hospital could be $7500 and I would owe $1500. But that’s just the hospital and for me, what about the OB and the baby’s cost.
Post # 12
I understand the concepts but its really down to the actually costs that I’m having a hard time. I just made a spreadsheet. It seems from 0-$1500 is a $500 difference. Then untill $14,500 the two plans are about $30 difference. And then their max is $428 difference. The tax effects are something I don’t grasp you can put $3300 into the HSA but only $2500 in the FSA. I just hope that if I select the HDHP that I do get preg and make it worth the switch!
Post # 13
Not trying to confuse you here, but wanted to add that the IRS just announced that they are allowing up to $500 to be carried over from an FSA. (link here: http://money.cnn.com/2013/10/31/pf/flexible-spending-accounts/) However, if your company already gives you a 3 month grace period into the new year, for example, we have til March 2014 to spend our FSA because DH’s company allows it, then your company is only allowed to do one or the other, not both.
Post # 14
@MrsSaltWaterTaffy: Mine did not carry over. I had to figure out what my potential healthcare costs were for the upcoming year and then make a leap of faith.