Jump to content


Photo

Anyone use an HSA?


  • Please log in to reply
11 replies to this topic

#1 Taylor

Taylor

    Member

  • Members
  • PipPip
  • 17 posts

Posted 04 November 2015 - 04:39 PM

It's open enrollment at my workplace and this year we get an HSA option. I'm not sure if I should switch from my traditional PPO. Anyone here use an HSA over other plans?

Of course, I'm worried about Sprycel, but apparently express scripts finally obliged my state's oral chemotherapy law and my copay went from $150 (which was the max) to $49.99. Then again, that $150 max per script was on the PPO plan. With the HSA, I would pay 10% after my $1.4k deductible.

Otherwise I'm healthy and only take prescription potassium. Wife has only been to the doc once in the 5 years we've been married for swimmers ear, our almost three year old has never been sick (!). Another baby on the way in February. If it weren't for the Sprycel it would be an easy decision.

I appreciate any insight!

#2 hannibellemo

hannibellemo

    Advanced Member

  • Members
  • PipPipPip
  • 728 posts
  • LocationNorth Central Iowa

Posted 04 November 2015 - 05:20 PM

This might give you food for though, Taylor. I'm sure there are other sites out there, too.

 

https://blog.wealthf...le-health-plan/


Pat

 

"You can't change the direction of the wind but you can adjust your sails."

DX 12/08; Gleevec 400mg; liver toxicity; Sprycel 100mg.; CCyR 4/10; MMR 8/10; Pleural Effusion 2/12; Sprycel 50mg. Maintaining MMR; 2/15 PCRU; 8/16 drifting in and out of undetected like a wave meeting the shore. Retired 12/23/2016! 18 months of PCRU, most recent at Mayo on 7/25/17 was negative at their new sensitivity reporting of 0.003.<p>


#3 xGunner

xGunner

    Member

  • Members
  • PipPip
  • 24 posts
  • LocationDes Moines

Posted 04 November 2015 - 06:24 PM

My out of pocket this year was $5400, previous year was $4800.

 

I am hoping that the Gleevec co-pay card will cover most of that.

 

Big charges in January, the rest of the year it is covered. Did not have much of a choice when MegaCorp changed the options.

 

In some ways, it makes it easy to budget for health care. Just assume you will pay the max out of pocket.  In January.

 

The HSA that is part of the plan is held at Fidelity. I used to keep the funds invested in alcohol and tobacco companies. They performed well. I switched everything to ETF funds to manage some of the volatility. Overall, put the max into the HSA. If you don't spend it eventually, it can be drawn out similar to a 401k.



#4 Marnie

Marnie

    Advanced Member

  • Members
  • PipPipPip
  • 396 posts

Posted 04 November 2015 - 08:41 PM

I was on an HSA, and got off of it and onto my husband's traditional insurance plan as quickly as I could.  Most HSAs have $5000 - $10,000 deductibles, which you will pay out of pocket when you get your Sprycel prescription in January.  Remember. . .you won't pay the co-pay, you will pay the full deductible.  When I got my Sprycel, I had to put it on my credit card. . .$5000.  The poor guy at the register looked at what rang up and said to me, "You should really check to see if there's a generic." 

 

Here's what I found when my school district switched to a HSA plan.  People avoid going to the doc when they need to because rather than a copay, you end up paying the doctor's fee. . .usually around $150 to $250 depending on what type of doc.  People avoid getting treatment when they should get it because they pay the entire cost.  And, those people who end up paying the entire deductible because of some unexpected medical issue. . .broken bones, hospitalization, etc. . .end up for the rest of the year getting every little procedure done, because once the deductible is payed, then you don't pay for anything.  In short, most people don't go to the doc when they should, and some people go to the doc more than they should.  It's a stupid system (in my opinion). 

 

For those like us, with a high cost medication, it just doesn't work (in my opinion).

 

Educate yourself as best you can before you make any decisions. . .

 

Marnie



#5 chriskuo

chriskuo

    Advanced Member

  • Members
  • PipPipPip
  • 367 posts

Posted 05 November 2015 - 01:45 AM

HSA's work best for people in a high tax bracket who have low medical and drug expenses.



#6 rcase13

rcase13

    Advanced Member

  • Members
  • PipPipPip
  • 523 posts
  • LocationCharlotte, NC

Posted 05 November 2015 - 04:48 AM

An HSA is all Wells Fargo offers. So that is what we have. I wish insurance wasn't tied to our work.

10/01/2014 100% Diagnosis (WBC 278k, Blasts 6%, Spleen extended 20cm)

01/02/2015 0.06% Tasigna 600mg
04/08/2015 0.01% Tasigna 600mg
07/01/2015 0.01% Tasigna 600mg
10/05/2015 0.02% Tasigna 600mg
01/04/2016 0.01% Tasigna 600mg
04/04/2016 PCRU Tasigna 600mg
07/18/2016 PCRU Tasigna 600mg
10/12/2016 PCRU Tasigna 600mg
01/09/2017 PCRU Tasigna 600mg
04/12/2017 PCRU Tasigna 600mg
10/16/2017 PCRU Tasigna 600mg
01/15/2018 PCRU Tasigna 600mg

 

Cancer Sucks!


#7 Marnie

Marnie

    Advanced Member

  • Members
  • PipPipPip
  • 396 posts

Posted 05 November 2015 - 09:25 AM

Many employers are going this route because it saves them money.  Be prepared for one whopping big payout in January.  After, you'll probably find yourself going to the doc for every little sniffle. 

 

Sadly, most people are totally uninformed.  I was on our teachers' contract negotiation team when my district decided to go this route.  I was unable to convince my colleagues of how the HSA would play out.  Administration did a good job of marketing it.  My colleagues assumed that I was only arguing against the HSA because of my own situation.  A year later, those teachers who pooh-poohed my warnings  were amazed and horrified to see how expensive things got for families.  The deductible for families was $10,000.  That's a lot of money out-of-pocket for someone on a teacher's salary. 

 

I'm sorry that you don't have other options.  When the cost of TKIs come down, this won't be such an issue. 

 

Marnie



#8 hannibellemo

hannibellemo

    Advanced Member

  • Members
  • PipPipPip
  • 728 posts
  • LocationNorth Central Iowa

Posted 05 November 2015 - 09:48 AM

Marnie,

 

That's a good point to make. When this was offered as an option this year it was explained that even though there is an individual HSA and a family HSA, it isn't like traditional insurance where you may have a $1,000 deductible per individual and a $2,500 for family and you, as the individual in a traditional plan only have to pay the individual deductible even if you have a family plan.

 

In an HSA, if one person in the family is the only one to use the plan, if they have chosen a family plan with a $5,000 to 10,000 family deductible that is what the individual has to pay out of pocket. There is no individual deductible breakdown when you choose the family plan in an HSA.

 

Hope that made some sense!


Pat

 

"You can't change the direction of the wind but you can adjust your sails."

DX 12/08; Gleevec 400mg; liver toxicity; Sprycel 100mg.; CCyR 4/10; MMR 8/10; Pleural Effusion 2/12; Sprycel 50mg. Maintaining MMR; 2/15 PCRU; 8/16 drifting in and out of undetected like a wave meeting the shore. Retired 12/23/2016! 18 months of PCRU, most recent at Mayo on 7/25/17 was negative at their new sensitivity reporting of 0.003.<p>


#9 rcase13

rcase13

    Advanced Member

  • Members
  • PipPipPip
  • 523 posts
  • LocationCharlotte, NC

Posted 05 November 2015 - 10:10 AM

Yes the HSA is killing us. My max out of pocket for me is 6800. And we hit that pretty fast.

Between that and school loans we are tapped out. We both have good high paying jobs.

10/01/2014 100% Diagnosis (WBC 278k, Blasts 6%, Spleen extended 20cm)

01/02/2015 0.06% Tasigna 600mg
04/08/2015 0.01% Tasigna 600mg
07/01/2015 0.01% Tasigna 600mg
10/05/2015 0.02% Tasigna 600mg
01/04/2016 0.01% Tasigna 600mg
04/04/2016 PCRU Tasigna 600mg
07/18/2016 PCRU Tasigna 600mg
10/12/2016 PCRU Tasigna 600mg
01/09/2017 PCRU Tasigna 600mg
04/12/2017 PCRU Tasigna 600mg
10/16/2017 PCRU Tasigna 600mg
01/15/2018 PCRU Tasigna 600mg

 

Cancer Sucks!


#10 Marnie

Marnie

    Advanced Member

  • Members
  • PipPipPip
  • 396 posts

Posted 05 November 2015 - 12:10 PM

The system is broken.



#11 triciad

triciad

    New Member

  • Members
  • Pip
  • 5 posts

Posted 05 November 2015 - 05:13 PM

A different perspective:

If done correctly HSA's can be a very beneficial long-term health savings account.  I've had CML for 10+ years and had family coverage through a PPO plan with deductibles, co-insurance and separate co-pays for prescriptions.  I started on Gleevec when it was about $5,500/mo...$50 co-pay for me.  Moved to Sprycel (clincal trial for 2 1/2 years - cost was free YAY!).  I have been on Tasigna now for over 7 years - $9,600/mo. 

 

Our company transitioned to an HSA plan 7 years ago and I must say...they did it right.  They added the HSA option with greatly reduced premiums and designed the plan that it didn't matter what my claims experience would be on the PPO, I was better off actuarially with the HSA.  Total out of pocket at the end of the year for every employee would be cheaper on the HSA.  I took my premium savings from the PPO that was going out the door and put it tax-free in my HSA.  I knew in January I was going to have a big expense that first year until I could build up my account.  Our deductible was $2,500 and I would have to pay that all in January with my first RX fill.  After that, everything for the rest of the year was covered 100%.  I know that my total annual out-of-pocket the company pays on my behalf is close to $100k.  I was ok with $2,500 up front.  I have now built up my HSA over the last 7 years and don't worry when January comes.  I also found out that Novartis offers a copay assistance so I do get some help as well.  They also did it right when it came to adding an embedded deductible.  Hannibellemo indicated most will have to pay a full family deductible.  We do not.  My annual out-of-pocket is now up to $3,500 in January but I know my fixed cost up front and it works well for my family.  With the PPO I had a deductible, then co-insurance up to a cap and then all my RX co-pays as well.

 

I guess it depends on how it's structured and I agree they may not work for everyone.  I appreciate what my company did for us.



#12 SunNsand

SunNsand

    Member

  • Members
  • PipPip
  • 21 posts

Posted 15 November 2015 - 02:57 PM

We have had an HSA for a few years through my husband's employer. We had a $10,000. deductible, which Novartis's financial assistance program helped us with, thank goodness.




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users