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Health Care Discussion (Open Enrollment for 2019)

BartBart Posts: 5,833AdministratorLeadPro
edited November 2018 in Low Content Forum
So I edited the bits about Health Care I discussed on the last few podcasts and made a free bonus podcast on the subject.

I figured I would start a thread to start a discussion about this topic and any questions that you may have on HSAs and the individual market.

http://www.crushlivepoker.com/podcasts/individual-health-care-for-poker-players

Bart
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Comments

  • BradleyT Posts: 621SubscriberProfessional
    edited November 2018
    Haven't listened yet but basing this off the end part of the original podcast.

    Are the rates usually the same on marketplace as you'd find on their website? (I know the support channel is different and probably worse by using the marketplace based on original podcast)
  • BartBart Posts: 5,833AdministratorLeadPro
    Yes the rates are the same off exchange, and there can sometimes be more of a selection of plans. However if you qualify for a subsidy (low income) you have to buy on the exchange to get that subsidy. Bart
  • FuzzypupFuzzypup Posts: 2,314Subscriber
    From my research you should always get the cheapest plan that covers everything. The coverage is important not paying up front.

    For example....

    Say you get the $1000 a month plan with a $5000 deductible
    vs
    the $200 a month plan with the $14,600 deductible.

    If they cover the same amount get the latter not the former. Why pay upfront for the same overall end of year cost for something. Only way it pays to get the former plan is if you plan on breaking someone serious in Jan, then dumping your insurance.

    And look at the HSA. Read the fine print. Some HSAs you lose the money the next year. I am not sure on the facts of it. Ours we lose our money next year. But we use it all in 3 months.
  • BartBart Posts: 5,833AdministratorLeadPro
    Fuzzypup said:
    From my research you should always get the cheapest plan that covers everything. The coverage is important not paying up front.


    And look at the HSA. Read the fine print. Some HSAs you lose the money the next year. I am not sure on the facts of it. Ours we lose our money next year. But we use it all in 3 months.
    I think you are confusing an HSA with a FSA or flexible spending account. HSAs rollover from year to year if the $$ is not used. https://www.calhealth.net/do-hsa-funds-roll-over.htm

    Bart
  • Capitawn10 Posts: 2Subscriber
    Hey Bart,

    Thanks again for this podcast. It was super helpful. Do you set up your HSA through your bank or through an insurance agency? After researching it looks like many banks no longer offer the HSA's. Any suggestions on who to go through would be greatly appreciated.

    Cheers
  • BartBart Posts: 5,833AdministratorLeadPro
    Capitawn10 said:
    Hey Bart,

    Thanks again for this podcast. It was super helpful. Do you set up your HSA through your bank or through an insurance agency? After researching it looks like many banks no longer offer the HSA's. Any suggestions on who to go through would be greatly appreciated.

    Cheers
    Check this out : https://20somethingfinance.com/best-hsa-account/

    I use Health Savings Administrators to buy Vanguard funds. Although they seem to charge a higher custodial fee than the rest but I think that they give the most investment options. Bart
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