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View Poll Results: Health Care: Does Your Employer Still Offer Traditional Insurance
My employer only offers traditional insurance 4 50.00%
My employer offers traditional & the HSA/High deductible plan 2 25.00%
My employer only offers the HSA/High deductible plan 0 0%
My employer does not offer health insurance for full time employees. 0 0%
I am self-employed. 2 25.00%
Voters: 8. You may not vote on this poll

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Old 04-14-2009, 10:41 AM
 
Location: Texas
8,672 posts, read 22,208,549 times
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Health care is a big political focus right now. In light of this, what do you think about the Health Savings Accounts linked to the high deductible insurance plans. I think these may be the wave of the future, but I personally don't like them. This is all some employers are offering now. I think mine is in the process of phasing it out. I had one at a previous job and I did not like it. Any thoughts about these? Good and bad opinions of them? Maybe I'm just unduly negative or old and set in my ways!!

Last edited by kaykay; 04-14-2009 at 11:50 AM..
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Old 04-14-2009, 10:50 AM
 
7,138 posts, read 14,588,969 times
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Quote:
Originally Posted by kaykay View Post
I think these may be the wave of the future, but I don't like them. This is all some employers are offering now. I had one at a previous job and I did not like it. Any thoughts about these? Good and bad opinions of them?

Do you have any good links about HSAs? I don't know alot about them either, but am considering looking into HSA for myself. Its usefulness may depend on the type of health coverage you already have and one's general health. I have a high deductible insurance, in very good health, so may be of benefit. What is of value for me would be the ability to roll it over to my IRA at end of the year.

What didn't you like about the HSA?
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Old 04-14-2009, 10:54 AM
 
Location: NJ/NY
10,655 posts, read 18,598,457 times
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Quote:
Originally Posted by lilypad View Post
Do you have any good links about HSAs? I don't know alot about them either, but am considering looking into HSA for myself. Its usefulness may depend on the type of health coverage you already have and one's general health. I have a high deductible insurance, in very good health, so may be of benefit. What is of value for me would be the ability to roll it over to my IRA at end of the year.

What didn't you like about the HSA?
My sister had no health problems ever, at all, so she chose a high deductible ($15k) insurance combined with something like $4k in HSA funds for the year. An HSA is (in her case) an account that has $4k in it that can be used towards health costs only. She can pay and be reimbursed, or use a special credit card.

Of course, this was the year she ended up needing several expensive tests, and she has already used the $4k and still has not hit the deductible, and will have to pay the next $11k out of pocket.

Too risky for me.
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Old 04-14-2009, 10:56 AM
 
1,655 posts, read 3,236,295 times
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Quote:
Originally Posted by newtoli View Post
My sister had no health problems ever, at all, so she chose a high deductible ($15k) insurance combined with something like $4k in HSA funds for the year. An HSA is (in her case) an account that has $4k in it that can be used towards health costs only. She can pay and be reimbursed, or use a special credit card.

Of course, this was the year she ended up needing several expensive tests, and she has already used the $4k and still has not hit the deductible, and will have to pay the next $11k out of pocket.

Too risky for me.
Exactly. I hate it. I have a high deductible insurance now and it's really only good if you have a catastrophic year. Otherwise, you are paying for everything out of pocket plus the premium. Is this topic in the right forum?
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Old 04-14-2009, 10:57 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,787,749 times
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I think people need to get this idea out of their head that insurance should pay for all their medical needs....

When we no longer have coverage through my work,if we choose to buy insurance it will be with a deductible of $5000 or so....
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Old 04-14-2009, 10:58 AM
 
Location: Texas
8,672 posts, read 22,208,549 times
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Quote:
Originally Posted by lilypad View Post
Do you have any good links about HSAs? I don't know alot about them either, but am considering looking into HSA for myself. Its usefulness may depend on the type of health coverage you already have and one's general health. I have a high deductible insurance, in very good health, so may be of benefit. What is of value for me would be the ability to roll it over to my IRA at end of the year.

What didn't you like about the HSA?
Sorry, I don't have a good link. My knowledge of them has mostly come through employer based insurance meetings. So I'm not the most knowledgeable person about them.

The thing I didn't like was paying the entire cost of anything upfront until you had satisfied your deductible. (like for prescriptions etc.) Also,,, since the HSA deals with pre- tax money, you also have regulations by the IRS, record-keeping etc. I would prefer not to deal with all that. I just fail to see any advantange to them whatsoever. I think many employers are going to them solely, however, because the traditional plans are becoming so expensive for an employer to provide.
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Old 04-14-2009, 11:02 AM
 
23,838 posts, read 23,025,743 times
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For young, healthy individuals, high-deductible health insurance is a reasonable option in my opinion. For years I carried health insurance that had a deductible of $5000. Sounds crazy, but I rarely went to the doctor (maybe once in 2 or 3 years) so carrying a policy with higher monthly premiums to cover a rare doctor's visit just didn't make sense in the cost-benefit side of things. In fact, not even low deductible policies would cover a single doctors visit because those plans had a $300 deductible as well. It was no-win in my opinion. High-deductible plans are generally considered "catastrophic" plans, in which case should you have a catastrophic event take place, $5000 would easily be met within the first few hours at the hospital. This, of course, really only applies to the healthy. I'd have to research it further to see if it would be a viable option for those with pre-existing conditions.

At least that's my experience and opinion.

I've never used an HSA so I can't comment on that.

Last edited by AeroGuyDC; 04-14-2009 at 11:18 AM..
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Old 04-14-2009, 11:04 AM
 
Location: NJ/NY
10,655 posts, read 18,598,457 times
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Quote:
Originally Posted by oz in SC View Post
I think people need to get this idea out of their head that insurance should pay for all their medical needs....

When we no longer have coverage through my work,if we choose to buy insurance it will be with a deductible of $5000 or so....
So if you get cancer and lose your job from being ill, you should just die?
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Old 04-14-2009, 11:07 AM
 
Location: Texas
8,672 posts, read 22,208,549 times
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Quote:
Originally Posted by vsmoove View Post
Is this topic in the right forum?
Yeah, I wondered if this was actually a good place to post this. Maybe it should be under personal finance...but in my mind, I guess, it is a controversial issue. Also, it deals with health care which is a big political topic/agenda right now it seems.

Last edited by kaykay; 04-14-2009 at 11:16 AM..
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Old 04-14-2009, 11:11 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,787,749 times
Reputation: 2519
Quote:
Originally Posted by newtoli View Post
So if you get cancer and lose your job from being ill, you should just die?
Yes!!!
That is EXACTLY what I meant....
Catastrophic insurance will cover the cancer...just not your sniffles.


A person should be willing to pay $50 to visit the Doctor....or $100.

How many people here have dental insurance?
It seems to be less popular yet people somehow pay to get their teeth cared for.
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