On 8/26/2019 8:52 PM, Craig via Mercedes wrote:
On Mon, 26 Aug 2019 19:49:22 -0500 "Kaleb C. Striplin via Mercedes"
<mercedes@okiebenz.com> wrote:
What are the thoughts on an employer PPO plan as opposed to a HDHP.
Let's say a PPO family plan has a $500 individual, $1000 family
deductible. Out of pocket max is $2500/$5000. Coinsurance is $15 for
doctor visits and other items are 10% after deductible is met.
Prescriptions are
What?
$10/$25/$50 copay depending on the drug
Cost for PPO is $825/month.
HDHP #1 is $2000/$2700 deductible with $4000/$8000 out of pocket. HDHP
#2 is $3000/$6000 deductible with $6000/$12000 out of pocket. Cost for
care is 20% for everything after deductible is met including
prescriptions.
For both HDHP's?
20% is the same on both plans
HDHP #1 is $420 per month.
HDHP #2 is $165 a month.
If going with HDHP plan you can setup a HSA with a max contribution of
$5k per year with a $2k employer contribution.
Is the employer contribution independent of what you contribute?
I think it is an up to thing. If you contribute $5k, they contribute
$2k. I would assume if you put in less they put in less.
My thought is you would [go] with the lowest cost option and put in the
max $5k per year, broken out per month you would be at around $243 less
Than what?
Less than the premium paid on under the PPO plan
per month. Plus the $416 or so you put in would stay in the account
and roll over year to year as opposed to paying it out in premiums.
Problem is if you have something come up you would have to cover it out
of pocket and hopefully have enough in the HSA at the time. Other
problem is if you have expensive prescriptions on a monthly basis.
Anybody been down this road before?
Sort of ...
Craig
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