High Deductible Health Insurance?

[Fjobe]

HSA pay for prescriptions - deductibles do not have to be met. That is what it there for. Not sure what you meant to say.

Sorry - I worded that wrong.

For example, prescription coverage offered at my DH's job is $4 for generic and $30 for name brand. If we use the HD insurance with the HRA, we can get $4/$30 prescriptions from the first day regardless of whether or not we have met our deductible. If we use the HD insurance with the HSA, we have to pay full price for prescriptions until we meet the deductible. In either event, you can use the HSA or HRA to pay for the prescription.

I have 2 friends using HSA (who do not work with DH), and it is the same for them. I thought all insurance with HSA was this way.

I apologize for the confusion.

 

[thornton0511]

Our family is on this kind of plan and its works great for people who stay pretty healthy throughout the year. My employer also gave us a "health credit card" that we can use for sick visits and other out of pocket expenses thoughtout the year, once the funds are gone you're on your own but the amount they load on the card pretty much covered all of our out of pocket expenses for the year and also any unused funds rollover to the next year. Also with these plans well visits, yearly visits for women, labs and immunizations are covered 100% so unless something major happens you are really only out for getting sick. It has worked well for us

 

[ilovepete]

Thank you everyone. I think we have decided to try it.

 

[linda0706]

However, the first year could always be a gamble. If your plan year starts in January and you go to the hospital in January then you most likely will get hit with a huge bill. Your HSA might not have enough cash to pay for the bill. Hopefully, you have some savings that could cover the balance. That is something you need to think about as well.

.

We ran into this last year. We owed a hospital a couple $1000 more than what we had available in our HSA. However the hospital was happy to work with us setting up a payment plan. They payments were several hundred dollars per month - the amount of our monthly HSA contribution - so it didn't take long to pay it.

So keep that in mind too, that hospitals usually will work with you when they know your situation and that they WILL be paid.