submitted 1 year ago* (last edited 1 year ago) by root@lemmy.world to c/personalfinance@lemmy.ml

13 comments fedilink hide all child comments

I have been contributing to a HSA the last couple years, and it's been fine. My work contributes $1800 over the year and it hasn't really been a problem at all.

Now I have a kid and a spouse on my insurance, and they tend to go fairly often it seems. The copay and deductible on the HDHP is a bit crazy and I'm thinking of swapping to a PPO. Is that a good idea, or is turning down the free $1800 from my work a no no?

Here is a link to the plans

you are viewing a single comment's thread
view the rest of the comments

[-] CmdrShepard@lemmy.one 2 points 1 year ago

Your image doesn't include the cost of the premiums. My work offers similar types of plans except the HDHP is 'free' while the PPO has premiums totalling $5-6k per year. For us, it makes zero sense to use the PPO since it's guaranteed to cost at least $5-6k whether we see a doctor or not. With the HDHP, the theoretical minimum cost for the year is $0 if we never go to the doctor but realistically we usually get close or hit our family deductible but it's still cheaper than the PPO.

[-] root@lemmy.world 1 points 1 year ago

Ah, sorry about that. The plans vary from ~150-300 per paycheck. I'll have to check the details a bit more.

this post was submitted on 31 Oct 2023

32 points (100.0% liked)

Personal Finance

3819 readers

2 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml