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Speaking of insurance

I have BlueCross BlueShield health insurance. Family of four. Last month I raised my deductible from $2,500 to $10,000. The premium went from $827 mo. to $376 mo. or $9,924 yr to $4,512 yr. I save $5412 per year on premiums. The money I save is going into a Health Saving Account. I will put the maximum allowable tax deductible contribution of $5,850 in the HSA. If I had no medical expenses, in two years I would $11,700 in the account, that would cover the full deductible, if I ever had to use it. In reality it may take three or four years. I think the money can be rolled into an IRA at retirement.

Info about HSA's can be found here-

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Just a thought for those looking to save money on health insurance. Mike

Reply to
amdx
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I remember being young and doing just that. Ran a spreadsheet and found the 'turnover' point. Dramatic reduction in premiums.

...Jim Thompson

--
| James E.Thompson, P.E.                           |    mens     |
| Analog Innovations, Inc.                         |     et      |
| Analog/Mixed-Signal ASIC\'s and Discrete Systems  |    manus    |
| Phoenix, Arizona  85048    Skype: Contacts Only  |             |
| Voice:(480)460-2350  Fax: Available upon request |  Brass Rat  |
| E-mail Icon at http://www.analog-innovations.com |    1962     |
             
 I love to cook with wine     Sometimes I even put it in the food
Reply to
Jim Thompson

Eveon more so now that the young can use before tax dollars for medical expenses.

Reply to
krw

Those were just coming into usage as I was leaving :-(

But wonder how long Obama will allow that?

...Jim Thompson

--
| James E.Thompson, P.E.                           |    mens     |
| Analog Innovations, Inc.                         |     et      |
| Analog/Mixed-Signal ASIC\'s and Discrete Systems  |    manus    |
| Phoenix, Arizona  85048    Skype: Contacts Only  |             |
| Voice:(480)460-2350  Fax: Available upon request |  Brass Rat  |
| E-mail Icon at http://www.analog-innovations.com |    1962     |
             
 I love to cook with wine     Sometimes I even put it in the food
Reply to
Jim Thompson

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Same here. I did that pretty much the millisecond Kaiser allowed such a plan. Of course, thousands of others must have done the same and they were swamped with plan change applications.

Another good thing is that one can pay dental stuff with the HSA.

Now stop scaring us here, will ya? ... :-)

--
Regards, Joerg

http://www.analogconsultants.com/

"gmail" domain blocked because of excessive spam.
Use another domain or send PM.
Reply to
Joerg

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3 years, the shit is timed for the next presidential election. Please at least scan HR-3200.
Reply to
JosephKK

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