First time considering HSA help
Hello,
I am enrolling at a new employer and it is the first time im considering a high deductible plan + HSA.
I typically select a PPO plan in the 2k-3k range.
My wife and I are in our 30s with a 5 year old and a 1 year old. No outstanding health complications, but we have had to visit urgent care before for the kids.
Would anyone be able to tell me if the hdp us hsa is a no brainer? I am concerned I will switch and regret my choice later.
Here are the stats for a family plan for either plan.l:
YOUR COST
You + Family
PPO$48.49 | HSA $0.02
HSA CONTRIBUTION
Employer HSA Contribution if on HDP
$150 (Monthly). No minimum employee funding required.
DEDUCTIBLE & OUT OF POCKET
Yearly Deductible
PPO $2000/person or $6000 family for in network $6000 individual/ $18,000 family for out of network.
HDP $2500/person or $5000 family for in network $4000 individual/ $8000 family for out of network.
Out‐of‐Pocket Maximum
PPO $6000 person or $12000 for family in network. $12,000 individual or $24,000 for out of metwork
HSA $3425 person or $6850 for family in network. $10,000 individual or $20,000 for out of metwork
DOCTOR VISITS
Preventive Care
$0 copay per visit either plan
Primary Care
PPO $45 copay per visit | HSA $0 +0% after deductible
Specialist Care
PPO $75 copay per visit | HSA $0 +0% after deductible
PHARMACY (per 30-day supply)
Generic (Tier1)
PPO $20 copay | HSA $20 copay (after deductible)
Preferred Brand (Tier2)
PPO $55 copay (after prescription deductible) | HSA $50 copay (after deductible)
Non-Preferred (Tier3)
30%* Either Plan
URGENT CARE AND EMERGENCY ROOM
Urgent Care Visit
PPO $75 copay per visit | HSA 0% (after deductible)
ER Visit
PPO $600 copay per visit (waived if admitted) | HSA 0% (after deductible)
Thank you!
Edit: updated deductible and out of pocket max to reflect both individual as well as family as i think that is where I caused confusion!