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1/22/2020 12:12:56 PM
Posted: 1/17/2015 5:15:14 PM EST
Anyone doing the HSA/HDHP thing?

I'm looking at moving to a self employed position and purchasing my own health care. I'm no huge BHO lover, but at least I'm now insurable (I had a pre-existing condition that is fully treated and no longer causing me problems but was uninsurable before BHO's health plan took effect).

Thanks for any advice.
Link Posted: 1/17/2015 5:23:38 PM EST
[Last Edit: 1/17/2015 5:24:53 PM EST by DDiggler]
Yes... I max out my contribution every year, sink the money into tax-free mutual funds, save my receipts and pay for expenses out of pocket so I can keep the money in mutual funds.

Another vehicle to make tax-free money and reduce taxable income.

You're gonna pay about the same whether it's a premium plan or a high deductible with maxed HSA.. the difference is that you get to keep the money you put in the HSA. Sink it into premiums and you lose it.
Link Posted: 1/17/2015 5:28:20 PM EST
Who do you use for your HDHP? Any recommendations?
Link Posted: 1/17/2015 5:50:24 PM EST
Right now I'm with Aetna, provided by my company. Good enough. I pretty much pay for everything all year anyways... never met the deductible.

Link Posted: 1/17/2015 5:52:02 PM EST
[Last Edit: 1/17/2015 5:53:53 PM EST by SemperFo]
Yes. Through my work. I never go to the doctor though.

ETA: also through Aetna
Link Posted: 1/17/2015 7:12:44 PM EST
[Last Edit: 1/17/2015 7:13:40 PM EST by SnoopisTDI]
I have a hdhp with HSA through my employer and love it. All the money most people pay into premiums, I instead put into the HSA. I think I currently have about five years' worth of max out of pocket in my HSA. If I had paid high premiums instead, I'd have... nothing.

Of course, if you require a lot of health-care then I don't think it makes much difference in total cost. It'll all average out. But if you're fairly healthy then it makes a lot more sense to keep your money (in the hsa) rather than blow it on premiums for insurance you're barely using.
Link Posted: 1/17/2015 7:51:44 PM EST
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Originally Posted By SnoopisTDI:
I have a hdhp with HSA through my employer and love it. All the money most people pay into premiums, I instead put into the HSA. I think I currently have about five years' worth of max out of pocket in my HSA. If I had paid high premiums instead, I'd have... nothing.

Of course, if you require a lot of health-care then I don't think it makes much difference in total cost. It'll all average out. But if you're fairly healthy then it makes a lot more sense to keep your money (in the hsa) rather than blow it on premiums for insurance you're barely using.
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Exactly it.

And make sure you save all your allowable receipts. You can reimburse yourself at any time, not just in the year you incurred the expense. So if you saved up 10k worth of receipts after a few years of paying out of pocket, if you need the cash for some reason you can get it out without penalty as long as you have the receipts to back up the amount.
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