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Contributing to an HSA (self.personalfinance)

submitted 1 year ago* (last edited 1 year ago) by root to c/[email protected]

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I have been contributing to a HSA the last couple years, and it's been fine. My work contributes $1800 over the year and it hasn't really been a problem at all.

Now I have a kid and a spouse on my insurance, and they tend to go fairly often it seems. The copay and deductible on the HDHP is a bit crazy and I'm thinking of swapping to a PPO. Is that a good idea, or is turning down the free $1800 from my work a no no?

Here is a link to the plans

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[–] tburkhol 1 points 1 year ago

This is the right answer, but it seems like lemmy doesn't care.

Both options are going to have fixed values - premiums, employer HSA contribution, tax benefits - and cost-of-care dependent values, which will change when you hit the relevant deductible. Plot the total cost of each option against the nominal cost of care, and pick the one that's cheaper, now that OP's expected cost of care has changed. Neglect the tax benefit if that seems like too-advanced math.