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May 19, 2024 23:45
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- really queer Christmas
- Apr 22, 2014
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hsas are a loving scam meant to be an investment vehicle for insanely rich people to get around 401k limits (401ks are also a scam too)
why the gently caress would i put money into an account that restricts me from using it on anything except health related expenses to save a trivial amount of taxes when i'd rather have access to that money to use for anything
My employer was really trying to push us into hsas and said it's a good opportunity if you're young.
Lol.
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Oct 23, 2019 18:00
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- really queer Christmas
- Apr 22, 2014
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nope
gunshow spends $396 per pay period (depending on their employer, this could be per week, per two weeks, twice a month, monthly, or possibly something else) for health insurance. this is the premium
this health insurance covers nothing* until either gunshow or their spouse has spent at least $800 that year on medical expenses. this is the deductible. note that the deductible is per-person, so gunshow and their spouse each have to separately reach the deductible before insurance starts paying out for their care. if only one of them meets their deductible, insurance will only cover that person. family deductibles can come into play with larger families but aren't relevant here
once the deductible has been met, the insurance will pay no more than 75% of any further medical costs gunshow accumulates that year, assuming that the insurance company does not find some reason to deny them... (this is the co-insurance)
...until gunshow has spent $3.6k of their own money that year on health costs (this is the out-of-pocket maximum). and no, premiums don't count toward this number. once the out-of-pocket maximum has been met, the insurance company will cover the rest...until the end of the year or plan year, at which point all these numbers reset. like the deductible, the out-of-pocket maximum is per-person in this case, so gunshow's spouse can still rack up medical costs even if gunshow themself has met the OOP maximum
this is american healthcare at its finest. have fun decoding it
also, depending on the specific details of the plan, all of these numbers may only apply to doctors that have directly contracted with the specific insurance company in question (this is what it means to be "in-network"). any services from doctors that don't have a network agreement (out-of-network) could be subject to less coverage
*a lot of insurance plans have special charges for certain treatments, and Obamacare requires certain things be free or discounted under certain conditions, so specific details may vary from these general numbers
This post should be read out to each and every health insurance executive every day for the rest of their lives as they toil away in the alaskan gulags.
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Oct 23, 2019 19:46
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Oct 22, 2019 02:30
