September 2015 Expenses and Savings
Income & Expenses September the bills from the birth of our child came rolling in. Even as I write this I am still getting bills from the hospital in October. Even though I saved to be able to pay the deductible I got lost in the rest of the explanation of my medical benefits. Basically I learned HSA's suck. Especially the ones with a high deductible. When I switched jobs I looked at the regular health insurance where you do a copay and the insurance company covers the rest. I added up the higher monthly costs for those and the HSA (monthly cost plus the $5500 deductible.) The HSA was $1000 cheaper per year and my company puts up to $1600 into the HSA if you get a physical and do some other online activities to learn about better health. Sounds good right? Well even after you pay the $5500 out of pocket (I saved for that) you still have to pay %20 of anything on top of that up to $12,000. What?? Yeah that is crazy....