Da_Sperm
New Member
Open enrollment for my job begins in October and they are reducing the cost of health insurance, but reducing the premiums means they are increasing the deductibles.
One added Health Plan for 2008 is a High Deductible Plan. This plan has the highest deductible ($2200/per year/family), but it has a feature called the "Health Savings Account".
The HSA is similar to the Flex Savings Account in that you can use pre-tax dollars for medical expenses, HOWEVER 1) you have to be enrolled in a High Deductible Medical Insurance plan, 2) you don't have to use up all the money by the end of the year, it rolls over and 3) it EARNS INTEREST because it works the same as a 401K.
I'm thinking about going this route in 2008. The deductible is $1000 more per year than the low deductible plan, but the premium is $1200 less per year than the low deductible plan.
Any thoughts?
One added Health Plan for 2008 is a High Deductible Plan. This plan has the highest deductible ($2200/per year/family), but it has a feature called the "Health Savings Account".
The HSA is similar to the Flex Savings Account in that you can use pre-tax dollars for medical expenses, HOWEVER 1) you have to be enrolled in a High Deductible Medical Insurance plan, 2) you don't have to use up all the money by the end of the year, it rolls over and 3) it EARNS INTEREST because it works the same as a 401K.
I'm thinking about going this route in 2008. The deductible is $1000 more per year than the low deductible plan, but the premium is $1200 less per year than the low deductible plan.
Any thoughts?