On October 28, 2017 at 23:32, Fins said...
HSA seems like a good idea as long as you stay healthy. But what happens when you get one of those pesky unplanned things like cancer? It looks like you could eat up the account very quickly and be in trouble.
It would depend on the deductible, co-insurance and out-of-pocket maximums. With cancer or other catastrophic situations you are likely to hit maximums anyway.
With the plans that are available to me, I’d need close to $35k in medical expenditures before a low deductible plan would be a better deal than a high deductible. I plow the difference between the low and high deductible plans into an HSA. Even with broken bones and many doctor visits over the last two years I’m still up almost $6k in the HSA. If I have a low deductible, I always pay the premium whether I go to the doctor or not. If I have high deductible and don’t go to the doctor, I save that money. It’s a calculated risk but it’s worked for me.
But, again, it all depends on your plan. I check my math every year just to be sure a high deductible plan is still a better value.
