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Far-Two8659 t1_iue4k6l wrote

High deductible plans can be great, but be wary. You need to feel comfortable that if you had to pay that entire deductible PLUS coinsurance (your out-of-pocket max) because of a single emergency, you'd be able to.

The other thing you need to be very concerned about is the actual coverage. Not every insurance plan covers the same things. I've seen plans that cover emergency room visits (after deductible) but not ambulance rides. Just know what yours will cover.

Also, in-network vs out-of-network can be a backbreaker.

HSAs are also great, but you can only use them for medical expenses, so just be aware of that. If you overfund it you can't just take money out without a tax penalty.

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Mrs_Weaver t1_iuenqvg wrote

>HSAs are also great, but you can only use them for medical expenses, so just be aware of that. If you overfund it you can't just take money out without a tax penalty.

This is true, but you don't have any time limit for using that money, the way an FSA works. At my previous job, I had an HSA account with my high deductible plan. The company threw money in there, and I did, too, so it ended up with a few $thousand in it. I'm not at that job any more, but I'm still using that money to pay for copays, glasses, dental visits, prescriptions. And after 65, you can take the money out for anything. You pay taxes on that if it's not medical, but it's still an option.

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