Health Savings Accounts - Wage Works?

[daveswoodhauler]

Oh my god I shall never complain about my insurance again .


Sent from my rooted and eclipse running X2--thanks nitro-- if im posting on here I'm probably supposed to be working! I can't help im addicted to HEARTH.COM!

Correction, we have a $2700 ded...then coinsurance kicks in where the plan pays 80% of most items....then, we cap out at the $9100

 

[shmodaddy]

Jeez guys im sorry. We have a ppo insurance through my union. $800 family deductible then 90/10 in network. $3000 max out of pocket. This is the only insurance I have ever had and didn't really realize how good I got it.

Seven days after our deductible renewed we met it when my 3 year old daughter stuck a small rock in her ear and had to have it surgically removed.

I truly feel for you that have huge deductibles like that. Not sure but it seems as though it would almost be better to pay cash and negotiate your bill yourself with the hospital.

Sent from my rooted and eclipse running X2--thanks nitro-- if im posting on here I'm probably supposed to be working! I can't help im addicted to HEARTH.COM!

 

[daveswoodhauler]

Jeez guys im sorry. We have a ppo insurance through my union. $800 family deductible then 90/10 in network. $3000 max out of pocket. This is the only insurance I have ever had and didn't really realize how good I got it.

Seven days after our deductible renewed we met it when my 3 year old daughter stuck a small rock in her ear and had to have it surgically removed.

I truly feel for you that have huge deductibles like that. Not sure but it seems as though it would almost be better to pay cash and negotiate your bill yourself with the hospital.

Sent from my rooted and eclipse running X2--thanks nitro-- if im posting on here I'm probably supposed to be working! I can't help im addicted to HEARTH.COM!

Just as an example, my wife had a medical event last December of 2011 and was hospitalized....got sent home after 5 days just before xmas and the surgery was scheduled for Jan 2012. Had we been on this plan in 2011 and 2012 we would have paid $9100 out of pocket in Dec 2011, and then another $9100 in Jan of 2012. Yup, it sucks.

 

[brian89gp]

Actually, the company that carries your HDHP usually negotiates some pretty nice discounts with health-care providers. Even though you have to pay out of your pocket, you aren't paying "street-price" for your health care as you might be if you are un-insured

Yes, they do. But many medical offices charge more up front for insurance paid visits, they don't call it that though, they call it "cash payment discounts". Many times it was either a $150-200 insurance paid visit, or $75 cash payment visit. Another more recent one was $270 for insurance paid, or $130 for cash payment. The insurance company does usually negotiate it down from there, but it is usually still higher then the cash payment amount.

Your mileage may vary though, this is just what I have observed at the medical offices around here.

 

[raybonz]

And I thought my insurance was expensive! I do work for a massive company so I am sure that helps!

Ray

 

[flyingcow]

Lucky to be employed by a company that pays most of our premium. I pay $38 a week for medical plus peanuts for dental and LTD. $3K family deductable on the medical, company pays first $1500 of that via a HSA. That second $1500 is up to the employee but I think most here would agree that's pretty manageable. Plan covers 100% of preventative and other "well" care regardless of wether the deductable has been met or not.



That kind of expense is exactly what keeps me from going to FT self-employment. One day I'll get fed up with the rat-race tho. ...

It's where I am, I am lucky to have a biz that can pay the health ins. FWIW..... I am on a local school board, the board chair actually. Also I am on the neg committee facing off with the teachers Union. Fun Times.........had by all.

 

[daveswoodhauler]

And I thought my insurance was expensive! I do work for a massive company so I am sure that helps!

Ray

I don't think its due to the size of the company, as I probably work for the 4-5th largest company in the nation in my field (Insurance).

 

[Swedishchef]

Wow. Those numbers are scary to me. I guess it makes me appreciate the medicare system we have in Canada. My wife has a C-section 3 weeks ago. WE (they wanted me to stay too in order to bond with the newborn) stayed at the hospital for 4 nights (and I even got to eat their cafeteria food for free) and it cost me nothing (directly). Just my annual income tax (which is a total of 34%)....I don't think I would be able to save $15000 for deductible incase we got sick.

Andrew

 

[jebatty]

Just my annual income tax (which is a total of 34%)

I think many people want to have their cake and eat it too. Choice may be this simple: pay higher taxes and get good medical care "free" or at a low cost and complain about high taxes; or, pay lower taxes and pay for high cost medical care through the nose and then complain about the high cost of medical care. Alternatively, shut up and be satisfied that you have a roof over hour head, food to eat, and good medical care.

 

[Swedishchef]

Jebatty: I agree 100% with your statement. I currently reside in the most taxed province in Canada. Yet there is a provincial prescription plan for those who can not afford third party ones, we have government subsidized daycares at $7 a day, $150 a month per child as a government subsidy, tuition for some of the best Universities in Canada (located in Quebec) cost $2200 a year. As you said, you can't have the cake and eat it too. In Canada it is simply "how it is". We are used to high tax rates and the pretty decent social programs that come with them. Every once in a while I will say "You know, I am not on welfare, I have never been on Employment Insurance, I do not get any advantages or get any of my money back that I have paid in the past 20 years". And then we had 2 c-sections and I shut up

A