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What part of "ALL" don't they understand?

The Sultan of SoWhat wrote: ↑Thu Jun 23, 2022 4:13 pm
What part of "ALL" don't they understand?

All of it.

Started a new job and I can't decide if I want health insurance or not.

Regular plan is $50 a paycheck, High Deductible is $37.

Also, something called an HSA or FSA is available depending on which you sign up for.

I never go to the doctor and have no idea if this would ever be worth it barring an outright catastrophe.

Looks like I've got some research/ deciding to do.

Spirit of the Watch wrote: ↑Thu Jun 30, 2022 10:01 am Started a new job and I can't decide if I want health insurance or not.

Regular plan is $50 a paycheck, High Deductible is $37.

$50 is cheap. Frankly, it would be incredibly foolish not to be insured.

Spirit of the Watch wrote: ↑Thu Jun 30, 2022 10:01 am Started a new job and I can't decide if I want health insurance or not.

Regular plan is $50 a paycheck, High Deductible is $37.

Also, something called an HSA or FSA is available depending on which you sign up for.

I never go to the doctor and have no idea if this would ever be worth it barring an outright catastrophe.

Looks like I've got some research/ deciding to do.

Medical debt is the #1 cause of bankruptcy in the United States. Get insurance. https://www.cnbc.com/2019/02/11/this-is ... uptcy.html

Spirit of the Watch wrote: ↑Thu Jun 30, 2022 10:01 am Started a new job and I can't decide if I want health insurance or not.

Regular plan is $50 a paycheck, High Deductible is $37.

Also, something called an HSA or FSA is available depending on which you sign up for.

I never go to the doctor and have no idea if this would ever be worth it barring an outright catastrophe.

Looks like I've got some research/ deciding to do.

Go with the regular plan at $50/paycheck. They all suck, but better to have it than not.

Spirit of the Watch wrote: ↑Thu Jun 30, 2022 10:01 am Started a new job and I can't decide if I want health insurance or not.

Regular plan is $50 a paycheck, High Deductible is $37.

Also, something called an HSA or FSA is available depending on which you sign up for.

I never go to the doctor and have no idea if this would ever be worth it barring an outright catastrophe.

Looks like I've got some research/ deciding to do.

Also, get the HSA/FSA. It's deducted pre-tax, so basically a 20-30% discount on health expenses, depending on your tax bracket. Your plan should have a very detailed list of what's an allowed expense and what's not. Review it and add up how much you spend on those things in a year. Some plans allow you to carry over a portion of the unused balance (usually a max of $550) into the next year, but know the limits and budget accordingly.

Yeah, the regular plan and no FSA/HSA seems like the way to go.

I know the HSA with the high deductible plan is used by some of the employees here because the employer tosses in some sort of HSA match (edit $1k or 1.5k with family) they perceive as free money but I'm not sure I want to play around with it.

Worst case I mess it up and open enrollment is in November.

Spirit of the Watch wrote:Yeah, the regular plan and no FSA/HSA seems like the way to go.

I know the HSA with the high deductible plan is used by some of the employees here because the employer tosses in some sort of HSA match (edit $1k or 1.5k with family) they perceive as free money but I'm not sure I want to play around with it.

Worst case I mess it up and open enrollment is in November.

Man, you are literally at step one understanding health insurance. You really need to do a lot more research. If you cannot immediately recite the difference between an FSA and HSA, you’re not in a position to make any decisions on what you need or don’t need. If you’re not 18 years old and living with your parents, you seriously have a lot of work to do my friend.

I’m just the messenger.

Quick differences between an HSA and FSA

HSA - only available with certain insurance plans. Pretax contributions. You will deposit a regular amount with each check automatically until your total is reached. So you're saving it up and best to plan anything $$ until closer to end of year. If you don't spend it all within the calendar year, you can roll over the leftover amount.

FSA - available with any plan company offers. Also pretax contributions You have access to your total yearly contribution from the start so you can schedule a major procedure early in the year which likely knocks out your deductible. Big difference is an FSA is use it or lose it. If you have any remaining balance by end of year, it's gone.

So figure out what works best for your situation. Guessing an HSA.

And to @Sussa's point, contribute to the max that allows employer matching. It is free money to your healthcare.

TheJohnP wrote: ↑Thu Jun 30, 2022 1:59 pm
FSA - available with any plan company offers. Also pretax contributions You have access to your total yearly contribution from the start so you can schedule a major procedure early in the year which likely knocks out your deductible. Big difference is an FSA is use it or lose it. If you have any remaining balance by end of year, it's gone.

“Use it or lose it” depends on the plan and the employer. IRS regulations allow carryover of up to 20% of the maximum contribution, but employers can set a lower limit, or not allow it at all. My company allows it.
Source: https://www.shrm.org/resourcesandtools/ ... colas.aspx

HSAs are only offered with a high deductible plans, and have a higher contribution limit than FSAs to help you save enough to cover that high deductible.
Source: https://www.healthcare.gov/glossary/hea ... ccount-hsa

I just got banned for 2 weeks for the 20 millionth time on WUS by Bo for trolling because a guy was ripping on watches smaller than 42 mm and I said “Midgets do well in a 36.” I thought it was a pretty subtle shut down on him for bashing smaller watches. Some people are so sensitive. On one hand it makes me feel like I’m walking on egg shells. On the other I just want to steamroll idiots and flip them off as my back tire spins out on their face.

People. Geez. I feel dumber now. Like I need that.

I like to think that MoT is like a bar where everybody has had a couple so we all give each other plenty of slack as we talk about things -- no need for eggshells or steamrollers.

BostonCharlie wrote: ↑Sun Jul 03, 2022 9:25 pm I like to think that MoT is like a bar where everybody has had a couple so we all give each other plenty of slack as we talk about things -- no need for eggshells or steamrollers.

Plus we don't have Bo on staff.