Vent: Just realized I was picking the wrong plan type for 4 years

I was going with a PPO every year because it sounded safer. Then I got hit with a $900 premium spike last January and finally sat down to compare. Saw that a high deductible plan with an HSA would have saved me over $2,000 in that time, even with a couple doctor visits. Anyone else been sticking to a plan out of habit and ignoring the math?

3 comments

3 Comments

alext524d ago

Yeah I ran the same numbers and ended up switching to an HDHP too, worked way better for me.

joseph_green134d ago

I was in the exact same boat, picked PPO for years because it felt like the safe choice. Finally sat down and ran the numbers after a similar premium shock, and the HSA plan with a high deductible saved me like $1,500 over two years. I actually had to go to urgent care twice and still came out ahead because the premiums were just that much lower. Plus the HSA money rolls over and you can invest it, which nobody tells you about. Just took a lazy afternoon to compare the numbers on the state exchange site and it was a total eye opener.

the_rowan2d ago

Wait, are you telling me those HSA plans actually let you invest the money too? I always figured it was just a glorified savings account that you had to burn through every year, but rolling it over and investing it changes everything. @alext52 you probably saw this coming before I did, but man I feel like I've been leaving free money on the table. That $1,500 you saved is no joke either, I wasted about that much last year on a premium plan I barely used. Guess I'm spending a lazy afternoon on the exchange site myself.