Married, two kids, ages 9 and 11
- Get the best deal on health care coverage
- Save for my future
Julie chooses to:
- Enroll in Employee coverage in the High Deductible Health Plan
- Enroll her kids on spouse’s plan
- Contribute $1,500 to Health Savings Account (HSA) to cover deductible
When it comes to benefits, I usually just pick the same plan every year. I’ve been in the Buy-Up PPO Plan for several years, covering myself and the kids. My husband covers himself in an HMO through his job.
But with costs going up, I took some extra time this year to calculate how we could get the best deal. I never really considered the High Deductible Health Plan before, but when I did the math, it really made sense.
It offers free checkups—which is about all the care I usually need. For other care, there’s a deductible. Then the plan pays 75% of expenses.
My boys get hurt playing sports more often than I’d like. We go to the urgent care and ER a few times a year. I wasn’t comfortable covering the kids on a high deductible plan, so my husband enrolled them in his plan. I’ll just cover myself through BAYADA. And overall, we’ll pay less.
I’m taking the money I’m saving in premiums and putting it in a Health Savings Account (HSA). The money comes out of my check before taxes—so I pay taxes on a lower amount. And I can use the money to pay for expenses (tax free), leave it in my account to grow (earning interest), or a combination. The money in my account is always mine—even if I retire or change jobs. Because of all the tax breaks, the HSA is also a great way to save for retirement expenses.