Personal Finance (Not Investing) • Which HSA plan to choose?

I'm a teacher and my district has put out new insurance plans from negotiations that are going to be voted on by our union. We've been very fortunate with our health and have been on 1 of the 2 high deductible HSA plans since it was offered about 5 years ago or so.

I'm thinking plan 1 is our best option but wanted to ask if it is better than plan 2 given portfolio and current health status.

I'm 47, wife is 46, child is 6. We do not have any major health issues, non-smokers, drink very little, and I exercise consistently. If any health details matter.

Financial details:
Employer match =5%
Max his/her Roths
Max HSA
529 funded up to max state tax credit.
Emergency fund= 6 months.
Portfolio= 17x expenses

HSA Amount Invested: $40k. $3,500 cash

Current plan (family):
Premium= $167/pay
Dental= $9/pay
Vision= $5.21/pay
Employer HSA contribution= $500/yr. (I contribute rest to max it out).
Deductible= $3,200/person
Individual max out of pocket= $4,000
Family max out of pocket= $8,000

New offer 1: Family Copay is 20%

Premium= $30/pay
Dental= $11/pay
Vision= $5.21/pay
Employer HSA contribution= $2,000/yr. (I contribute rest to max it out).
Deductible= $3,200/person
= $5,4,000/Family
Individual max out of pocket= $4,000
Family max out of pocket= $8,000

New offer 2: Family Copay is 30%

Premium= $0/pay
Dental= $11/pay
Vision= $5.21/pay
Employer HSA contribution= $2,000/yr. (I contribute rest to max it out).
Deductible= $3,200/person
= $5,4,000/Family.
Individual max out of pocket= $5,000
Family max out of pocket=$10,000

Statistics: Posted by jeremyl — Sun Nov 17, 2024 6:40 pm — Replies 0 — Views 118

---