How to Decide Between HSA Plan and PPO Plan

[@lucid685]

What about the quality of network providers? Does it differ in ppo vs hsa generally?

[@Mike2trys]

i've got 4 boys on my health plan, i also have several health issues, (high blood pressure, diabetes, overweight). it scares me to go with the HSA plan but they are raising my regular insurance rates almost double so now i'm lost on what to do

[@davejanas948]

Should we also factor in the tax savings of a maxed out FSA for the PPO plan?

[@gmo709]

So even with lots of additional medical costs, i am not sure my PPO would be cheaper than HSA. My company contribs more to the HSA than my deductible is for it and the coinsurance is 100% for the HSA. For the PPO it is 80/20 so it really isnt cheaper. So, i think this depends on what the company contributes vs deductible of the HSA.

[@EdwinRodriguez-zt5fx]

I have HDHP plan with an HSA account, however when I look at the cost of the PPO Plus plan it's not that much more per year. Is that normal, shouldn't the cost of the high deductible plan be substantially less? I'm talking for a couple hundred bucks I can get PPO. That said, I still won't get the tax savings benefit from the HSA. My employer's contribution to my HSA is minimal so that's a non-factor.

[@randolphh8005]

A lot of PPO plans have copays and deductibles that affect pricing. Read my other post on this thread for a better explanation.

[@davidwelty9763]

It is possible to have both. I have a high deductible PPO health plan with an HSA

[@ltraingalaxy122]

how

[@Omego2K]

I did the calculations before and HSA plan with the max contribution wins out after 20 years due to the tax implications even with FSA included. I'm sick and always hit my oop max

[@joepfeiler5911]

We have a high employer match on the HSA so there is no doubt in my case that the HSA is cheaper. If I put the savings in premium in my HSA and take my employer match, I will have enough money to pay the higher out of pocket cost.

[@ltraingalaxy122]

thats what im thinking also

[@joepfeiler5911]

@@ltraingalaxy122 Our employer match is higher for people who score high on their annual physical. Some one who is on a lot of medications and has a condition requiring a lot of doctor visits will be in a different situation.

[@AmperageY]

Oh no way this is up right after OPEN ENROLLMENT 🙃

[@jacobb6313]

Have you ever seen a analyzed premium the same in HSA and PPO plan. That is what my company switch to for 2023.

[@KevinM-ov3qr]

We did this math at work for the 3 plans they offered. Most people ended up going with HSA plan. If you had lots of doctor visits or prescriptions cost this would tip the scale in favor of the higher deductible PPO plan

[@Relaxitsonlyacomment]

Doesn’t the government take the money from hsa if it’s over a certain amount at the end of the year

[@randolphh8005]

You are thinking FSA. No but for an HSA if you contribute more than allowed there is a penalty. HSA money rolls over year to year.

[@ltraingalaxy122]

FSA

[@George-hl2xm]

lol not anymore the hsa health insurance premiums are higher than most ppo plans

[@randolphh8005]

This is an incorrect distinction. A PPO is a “Preferred Provider Organization”, this is available as an HSA eligible plan or a non-HSA eligible plan. What you are trying to point out is that deductibles tend to be much higher in a High Deductible Health Plan, and the premiums lower. With the HSA eligible plan you can contribute money to the HSA and this will roll over year to year and get a tax deduction. If you are healthy the High Deductible Plan is usually cheaper and allows the contributions. If not healthy it’s usually not a great idea. If you have a known event like childbirth, it is usually not good either. For most healthy people the “HSA” plan is better. The other big advantage is that you can change year to year, but you never lose your HSA contributions, and they can be invested or used anytime for medical expenses. My wife and I have over $130k in HSA monies starting retirement.

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[@clubcya]

Paying out of pocket for primary/specialty/urgent care + using a members club for your catastrophic "just in case" accidents costs less than either HDHP+HSA or PPOs for people who aren't utilizing a ton of specialty care. The idea is you have extra cash you can spend on anything, whether you want to invest, save, or splurge on something you've wanted for a while.

[@nadiac3319]

Good video but egregious use of the word "emotions". Would be more accurate to say factor in your individual and family health circumstances.

[@emeraldkimble7602]

Hsa equals moop

[@royjohnson9043]

talk too much