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Medicine


Questions
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can we have FSA?




what was your last year's deductible? Did you hit it?
- A good rule of thumb is that if you didn’t come anywhere close to hitting your deductible last year, you can probably choose an even higher deductible this year and save on premiums,
- But if you surpassed your deductible or came close, paying more for a plan with a lower deductible might save you money overall if that means owing just co-pays or co-insurance earlier in the year.
- the plans with the lowest premiums carry a hidden risk—more of your money is on the line if you ever get sick.



Average Plan Costs (Individual Policy)
Type of health plan Average yearly premiums Avg. out-of-pocket maximum (in-network) Avg. max outlay
PPO $1,145 + $3,291 = $4,436
High-deductible health plan $868 + $4,012 = $4,880
Source: Kaiser Family Foundation 2015 Employer Health Benefits Survey

In the above example,

- if you incur no health care expenses all year (remember: preventive care is fully covered in network), you’d save $277 in premiums by choosing a high-deductible plan over a PPO.

- a medical crisis or unexpected illness could leave you paying $444 more if you run up against your out-of-pocket max.

- also consider employer contribution to HSA and teh tax deductible saving you can have if you contribute to HSA


In 2015, 55% of employers contributed to workers’ HSAs, $809 on average. For a single tax filer in the 25% bracket, that’s a freebie that’s equivalent to $1,079 of post-tax money. In this situation, you are typically better off with a high-deductible plan. Best-case scenario, you save $277 on premiums; worst-case scenario, you save $365 in total out-of-pocket costs.


Average Plan Costs With HSA (Individual Policy)
Type of health plan Average yearly premiums Avg. out-of-pocket max (in-network) Average employer HSA contribution Average max outlay
PPO $1,145 + $3,291 – $0 = $4,436
High-deductible health plan $868 + $4,012 – $809 = $4,071


Insurance

HMO
You have to have a primary care physician a.k.a PCP and use referrals
PPO
Low deductible health plan a.k.a LDHP


PPO HSA
High deductible health plan a.k.a HDHP
FSA is limited to dental and vision costs. can be very useful for braces, dental work



The Bottom Line

Choosing a plan that your doctor accepts is a must. From there, if you’re relatively healthy and you have enough savings to cover a health care emergency, a high-deductible plan often makes sense, especially if your employer adds cash to your HSA. But if you tend to have high health care costs, you’re short on savings, or your employer isn’t adding to your HSA as an incentive, take a careful look at your potential outlay—it may be worth paying more upfront for better coverage later.






Vision insurance humana vision

————10 basic eye exam, 80 for frame,   25 copay (regular) , (28 polycarbonate)
contact  115. + additional exam 15% off

——————
70+80
thursday 10, 10 fri.   —— 120 poly carbonate
———————
quinn
tel: 7771——11:30 febu 27th
98.40   - 113

—————————————————————————————————————

16
—————
tomorrow 12:30 or 1
85 exam,   95 lenses,
=====================

$10 copay - comprehensive exam…..
$80 frame allowance ONLY 24 months
$25 material copay
AR copays -
Polycarbonate -

SO,
with insurance
12*16(monthly) + 35(initial setup) = 227
227 + 10(copay - comprehensive exam) + [60FRAME] + 25(material copay) + 45POLYCARBONATE + 60ANTIREFLECTANCE = 427(367)

SO,
without insurance
70 eye exam + 120 POLY + 60ANTIREFLECTANCE = 250



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