So, I know I see a lot of posts on here, but I have stirring doubts in my mind that I feel would be better to be addressed directly.
So, through my employer I have a range of health plans available to me. The top tier seems ridiculously expensive, so I just ruled that one out of the bat. However, I’m stuck between the bottom two:
The lowest plan would cost my family (married, 3 kids) $31/mo. with a $12k deductible, $12k out of pocket max. The second-tier would cost my family $93/mo with a $4800 deductible and an $8k out of pocket max. Prescription and preventative are the same on all plans and they’re all eligible for an HSA/FSA.
So, my question is: which one would be the best value for my family. I have a daughter who has a monthly $200 inhaler that is covered by insurance, and my wife has endometriosis, but otherwise we’re in great health are rarely go to the doctor beyond check-ups.
I think the biggest thing tripping me up is the HSA. I remember reading an article or post about how HSAs are a “bad investment” because they’re earmarked funds, you can’t choose the underlying funds, etc., but everywhere else seems to praise them as a money-savvy move.
My first thought is to go with the HDHP/HSA and just throw the difference in premiums into an HSA. But I’m not entirely sure how insurance works and if I would be better off with having higher coverage and no HSA.
Apologies for rambling - if someone could ELI5 some informed opinions, that would be great.
TL;DR I have little idea how insurance coverage works - please tell me which one is best for my situation.
Submitted February 22, 2020 at 08:18PM by Mrjustkidding https://ift.tt/2TaVhNL
