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Employer provides insurance (dh and I work for same employer so we are both covered at no cost as a benefit of employment. I carry kids)

Our employer is 'so excited' that they are changing our benefit package and 'oh how much money you'll save' speech was given. I am a bit anxious. Premiums are going down about $100 a month for the kids, no co-pays, and 100% coverage after deductible is met. So your basic lower premium/higher deductible plan. I am anxious because now I need to completely redo my budget.

This will include an HSA plan. Anyone familiar? The money we are saving in premiums can go tax free in to the HSA account. Our deductible will be $6000 for me and the kids and $3000 for my husband.

My concern is that I see the dr once a month. I also get a rx that is already not covered. I don't spend $6000 a year in medical expenses but of course I might if something bad happens. How do I save for these appointments. Is this really going to save me money in the long run? I'm so scared bc we already are living so tightly to get out of debt. NOW we have to figure out a way to save for medical expenses bc insurance won't cover it. Right now I budget $150 for medical but without the insurance covering it.. It's going to need to be more and then if someone gets sick?? That's extra money we don't already budget for unfortunately because a $35 co-pay is not going to break our budget but $150 out of pocket will.
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by on May. 1, 2012 at 2:49 PM
Replies (11-15):
by on May. 2, 2012 at 5:18 PM

Welcome to my world!

 I hate the insurance plans that are starting to look more like this all the time. We are already making payments to so many Dr's etc. just for some minor stuff. All because of a deductible kind of ins. I believe co-pays will be a thing of the past soon. Good luck with yours..........

by Member on May. 2, 2012 at 9:05 PM
The ONLY way you will get credit towards your deductible if to havve the claim filed by the office...otherwise the insurance does not give you credit. Also, you might look into getting your own private insurance...we have a great plan from The Farm Bureau...that may be a cheaper alternative.
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by Ashley on May. 2, 2012 at 9:51 PM

Quoting MamaBear2cubs:

I wish I could help.I am not to familiar with health insurance policies.
by Member on May. 3, 2012 at 10:26 AM

We have a similar plan with our deductible being $3000.  It is working out ok so far.  Is your employer putting any into your HSA to start it?  Mine didn't but I am putting the $150 I am saving on premiums into the HSA every paycheck and it is working out OK.  if it builds up and I don't use it all this year, I might lower it next year to bring home a little more $.  You also have to calculate those tax savings to see that you can add more into the HSA and still not see a deduction in your take home pay.   Good luck. 

by on May. 3, 2012 at 5:22 PM

Not sure i dont know much about that stuff iam no help sorry

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