Tag Archives: high deductible plan

Flexible Spending Account: takes some planning

Is there any reason to set up a medical flexible spending account if I’m not perfectly sure of my expenses for the year and I don’t expect any major life/work event? Steady Dear Steady, You do not need to be perfectly sure about your expenses to set up an Flexible Spending Account (FSA).  You could, […]

How much you pay before the plan pays

Does the coinsurance on health insurance apply to the total medical charge or the discounted charge after the health plan’s discount?  For example, my insurance company says I owe 20% coinsurance on laboratory visits. The lab charged $200, and the insurance company disallowed $175, which means we have $25 left over. The insurance company says […]

Health Savings Account plans: not a bargain?

I’ve looked at Health Savings Account plans, and they seem to come with higher premiums than I would have expected.  Shouldn’t these plans be really cheap, since they have such a high deductible? Penny Watcher Dear Penny Watcher, The Health Savings Account should, in theory anyway, have lower premiums.  The HSA plan should definitely cost […]

High deductible plan member — figuring out how much care will cost

As someone with a high deductible healthcare plan, how can I best estimate my out-of-pocket cost for a medical procedure prior to incurring the expense? My insurer does not make this information available.  All I want to know is, what the negotiated rate in-network is for a particular procedure.  In my experience, providers can tell […]

Affordable Care Act: Penalty applies even if you pay your own medical bills

Can I refuse to pay the penalty if I pay all of my medical expenses out of pocket? Let’s say I’m worth millions of dollars and I don’t want any health insurance company to have access to my health records. Can I just pay everything out of pocket instead? If so, I shouldn’t have to […]

High deductible, considering supplemental insurance

I have a high deductible ($5,000) health plan, and wonder if I should purchase a supplemental insurance.  I currently need procedures that cost $549 each. I have had two of them in the last month and a half and will need more in the future months.  I have to pay for them at the time […]

Super high deductible – do I really have health insurance?

I am single and self-employed.  I have a $15,000 deductible on my health insurance plan.  Nothing gets paid for, year in and year out.  I often wonder why I bother to carry this insurance at all.  What am I really getting for my money?  Paying Out Of Pocket Dear Paying Out Of Pocket, With such […]