Why I am going with the HDHP during open enrollment season

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gclapper
Posts: 69
Joined: Wed Sep 28, 2016 12:04 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by gclapper »

One of the things that worries me when comparing plans is the % copays. % of what? Where are the costs documented? From what I have found over the years it varies from doctor to doctor on negotiated fees. So it makes comparing plans on certain items hard to figure out. At least with BC/BS Standard, I have a good idea of the costs. Plus I also take advantage of maxing out the FSA.

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evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by evilanne »

Look at your current EOBs to see how much they are paying of an office visit. For In-Network Primary Care $25 or 10% or for a specialist $30 or 10%, if the allowable cost is $100 or $200, 10% would be $10 or $20 after you meet your deductible for the year.

gclapper
Posts: 69
Joined: Wed Sep 28, 2016 12:04 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by gclapper »

evilanne wrote:Look at your current EOBs to see how much they are paying of an office visit. For In-Network Primary Care $25 or 10% or for a specialist $30 or 10%, if the allowable cost is $100 or $200, 10% would be $10 or $20 after you meet your deductible for the year.
Thanks Evilanne. That works for the plan that I have and I guess would give a ball park for the costs at the same doctors but still is very dependent on negotiated costs between doctors and insurance companies or hospital and insurance company. From my research it can very greatly for the exact same procedure. So for normal routine costs it probably is relatively close, but for other things like emergencies or specialized procedures or special conditions like my daughter' type 1 diabetes I don't know.

I just wish it was simpler than it is. Just seems like it is getting more and more complicated, way more expensive, and more hidden from the customers eyes. I am researching the other plans right now and trying to see if staying with BC/BS is still the best option financially and medically. This is all good discussions here and is helping me think of other options available.

mhayes
Posts: 44
Joined: Sun Sep 17, 2017 2:20 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by mhayes »

I've gone back and forth with GEHA standard and BCBS basic for several years, depending what I may need surgery-wise. I think copay is cheaper with BCBS than GEHA. I like BCBS basic plan because it has no deductible.

I go with BCBS basic if I'm going to have something done or see several doctors and I go with GEHA if I'm healthy as a horse.

gclapper
Posts: 69
Joined: Wed Sep 28, 2016 12:04 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by gclapper »

mhayes wrote:I've gone back and forth with GEHA standard and BCBS basic for several years, depending what I may need surgery-wise. I think copay is cheaper with BCBS than GEHA. I like BCBS basic plan because it has no deductible.

I go with BCBS basic if I'm going to have something done or see several doctors and I go with GEHA if I'm healthy as a horse.
My family and I were on BC/BS basic for a bunch of years until my daughter was diagnosed with Type 1 Diabetes. That year was tough with basic. The next year I bumped it up to standard for the mail order prescriptions and more coverage on durable medical equipment. The mail order has saved us a ton of money compared to basic.

klee
Posts: 51
Joined: Sun Sep 17, 2017 2:35 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by klee »

I always dread open enrollment season. It's like we're predicting what we may need for our future. All plans are like apples and oranges. It looks like GEHA standard is better than BCBS standard. I don't know much about GEHA, not a well known insurance to most hospitals and doctors. So I would probably go with BCBS standard plan, especially for medication purpose.

Here are some links that may help or confuse some of you.

2018 GEHA Standard and High Option Brochure
https://www.geha.com/~/media/Files/Broc ... ochure.pdf

2018 BCBS Basic and Standard comparison of benefits https://media.fepblue.org/-/media/PDFs/ ... BS2018.pdf

GEHA Standard vs BCBS Basic Forum
https://www.bogleheads.org/forum/viewtopic.php?t=178899

Federal Blue Cross Standard versus Basic Forum
https://www.bogleheads.org/forum/viewtopic.php?t=204500

Federal Employees: BCBS Basic or GEHA HDHP Health Insurance Forum
https://www.bogleheads.org/forum/viewtopic.php?t=150193

Timber82
Posts: 166
Joined: Mon Feb 27, 2017 2:39 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by Timber82 »

In addition to the hernia I will be getting checked out next Monday for surgery. My friend offered me to join his practice for all 3 of us (Wife, Daughter, Myself) and once we are established patients of record he can call in our refills or any meds if we are sick through just a phone call or a personal visit. This will practically remove the copay visit entirely.

I have asked him to ensure there is no conflict of interests or any sort of fraudulent thing happening there and it is not, so long as I am not trying to obtain a controlled substance. Some doctors even will do phone or video conference consultations, he can do the same should we be sick with a cold or flu, or require immunizations and more involved issues of course would need to be in person. The only time a conflict of interest might come in is he can not write scripts for his own family. I feel very fortunate to be able to have this as a resource and I believe this has cemented my decision to go with the HDHP after adding up all the "Cash" prices of my meds, and my wife's we should be good barring some tragic event but as I found out my total costs are still less than what I would be on the hook for max out of pocket on my insurance.

All that aside I may ask to see someone else when the need arises to have a prostate exam done :D

Chindsey
Posts: 36
Joined: Wed Nov 01, 2017 2:52 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by Chindsey »

I think you're on the right track. My family has had the BCBS Basic plan for the past several years. Now that we're done having children and are all relatively healthy, we plan on switching to GEHA's HDHP with HSA for 2018. We plan to max out our annual contribution for the next 20 - 25 years, pay out-of-pocket for all future medical expenses, and enjoy the incredible tax advantages now and in the future (and compound growth opportunity).

The issue for me is finding a low-cost, broad-based stock market index fund in which to invest the HSA contributions with our provider, HSA Bank.

hmarkway
Posts: 61
Joined: Thu Apr 12, 2012 8:14 am

Re: Why I am going with the HDHP during open enrollment seas

Post by hmarkway »

I need to sit down and run the numbers because I'm very interested in a plan with a HSA. I've enjoyed saving money on taxes by utilizing my FSA with BCBS, but I hate trying to use it up and guesstimating how much I'll need this year. I want in on the super retirement account!

HSA - The Ultimate Retirement Account
Current Allocation: 50/50 split F/G Funds, as of 1/3/2018
Strategy: Loosely following Daily Seasonal #16198 until I figure out my 2018 plan when all the main plans start diverging.

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bamafamily
Posts: 155
Joined: Wed Aug 23, 2017 1:18 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by bamafamily »

I need to look into this as well. I currently have BCBS 112 with my wife and 14-year-old son all of whom are very healthy.
A question I have is that I plan on retiring in four years or so.
Does that particular variable have an influence on whether to go that route or not?
I have never had a high deductible plan before.
Thanks
Bama

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evilanne
Posts: 2067
Joined: Thu May 14, 2015 6:52 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by evilanne »

bamafamily wrote:I need to look into this as well. I currently have BCBS 112 with my wife and 14-year-old son all of whom are very healthy.
A question I have is that I plan on retiring in four years or so.
Does that particular variable have an influence on whether to go that route or not?
I have never had a high deductible plan before.
Thanks
The amount you contribute to your HSA is pretax so it would lower your taxable income while working by any additional contributions you make to HSA, the same as Traditional TSP contributions. The premiums are already pretax. Note: once you are retired, your FEHB is post/after tax so it may be possible to have deduction for medical expenses if you have medical expenses > 10% (7.5% if over 65) of AGI if you itemize under current tax laws, but if current tax plan passes, medical deduction goes away and there will be higher standard deduction.

If your situation changes, you still have Open Season once a year so I don't see that the number of years matter since there isn't a time limit on spending money from your HSA. I think you can also pay your premiums with $$ from HSA.

mindofmush
Posts: 353
Joined: Mon Jul 02, 2012 1:38 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by mindofmush »

The big question is whether you can stuff enough money into an HSA between now and 65. You'll have to decide on Medicare, whether to accept it, to incorporate Medicare into an FEHB plan or to reject both Medicare and Social security till later (70 maybe).

You can keep your HSA after Medicare but you can't contribute to it. If you accept social security, the IRS automatically assumes you are enrolled in Medicare (whether you are or not)

It might be worth it if you can invest the HSA the way you want to.
mo meng, mo ching (which loosely means: no money, no life)

Timber82
Posts: 166
Joined: Mon Feb 27, 2017 2:39 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by Timber82 »

I have seen the number 60 something thrown around wit hthe HSA, it seems like you can make non medical withdraws at that point, I know that cant be right , does anyone kno what happens at that point?

If anyone is worried about the unknown, think of it like this, switch to HDHP collect that sweet premium passthrough as well as contribute the difference between your old plans 2018 premium and the HDHP premium. When I ran the numbers youd only be out of pocket about $375 to reach your deductible.

The big seller is also the max out of pocket is 500/$1000 less than BCBS

and as mentioned you can alway go back, I had a HDHP for a while back in my private sector job only had about $300 in the HSA accunt when I left but back then it was nice

Carmen909
Posts: 109
Joined: Sun Dec 04, 2016 12:16 am

Re: Why I am going with the HDHP during open enrollment seas

Post by Carmen909 »

Nobel Prize winning behavioral economist, Richard Thaler, had an article in the New York Times today about the benefits of HDHP and HSAs. https://www.nytimes.com/2017/11/04/busi ... -plan.html (I'm not sure if this is behind a paywall but if it is you can use your gov account to get a free subscription) I'm a huge fan of Thaler's so I was thrilled to see that I was already doing something that he endorses. After I got kicked off TriCare as a reservist because I was eligible for FEHB, I went with the Aetna HDHP. I'm very happy with it. It's no TriCare but it's still pretty good.

Timber82
Posts: 166
Joined: Mon Feb 27, 2017 2:39 pm

Re: Why I am going with the HDHP during open enrollment seas

Post by Timber82 »

Just read the 2 articles and it may be because my mind is made up I definitely enjoyed the content.

GClapper, was curious if you have done any further comparing, I highly recommend contacting the plan and establishing dialog to grow an understanding. Don't forget, if you took that 5K you are maxing out the FSA and put it towards the HSA then you may come out ahead. Regardless best of luck in picking the best plan for you and your family.

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