HSA's

[joshril]

HSA:

*Half the family liability. HSA are one family deductible, PPO plans are two to possibly three members have to meet the OOP.

*Once the deductible is met (assuming 100% coinsurance) all services are free. Not so on PPO plans where office and drug copays always remain.

*HSA account allowing client to purchase stuff tax-free they already purchase like dental, vision, over-the-counter meds, etc...If you have to pay for that stuff anyway, might as well use tax free dollars.

*Yet another way to lower your tax exposure since all the money you put into your account lowers your taxable income.

Ok... on Assurant's family HSA if one family member meets half of the family deductible does the policy begin to pay for that person, or does the full deductible have to be satisfied?

 

[J.R.]

Ok... on Assurant's family HSA if one family member meets half of the family deductible does the policy begin to pay for that person, or does the full deductible have to be satisfied?

I take it you mean the One Deductible Plan since Assurant does not have a Family HSA Plan????? If it is the former, then any money spent for procedures, testing, etc. goes to the deductible (and OOP) and then everything is paid at 100%.

 

[joshril]

I take it you mean the One Deductible Plan since Assurant does not have a Family HSA Plan????? If it is the former, then any money spent for procedures, testing, etc. goes to the deductible (and OOP) and then everything is paid at 100%.

Right... well it says they have an individual plan with a $3750 deductible or a family with $7500 ded...

What I'm getting at is if only one family member uses the plan in a given year.. would that one person have to satisfy a $7500 deductible before anything is paid out...? Or, if one person and one person only had $3750 in their own expenses would they have benefits paid just for them.. otherwise.. wouldn't two individual plans for a husband and wife make more sense?

 

[J.R.]

Right... well it says they have an individual plan with a $3750 deductible or a family with $7500 ded...

What I'm getting at is if only one family member uses the plan in a given year.. would that one person have to satisfy a $7500 deductible before anything is paid out...?

Yes, although I wouldn't use that terminology when telling a client how the HSA works. I approach any high deductible plan chooses in this way.

Or, if one person and one person only had $3750 in their own expenses would they have benefits paid just for them.. otherwise.. wouldn't two individual plans for a husband and wife make more sense?[/quote].

NO, for at least 2 reasons.

1) Assurant offers a family discount on plans whereas some other companies do not offer discounts and it might make sense to put the husband/wife on a separate policy.
2) If one family member uses up the deductible and something happens to the spouse he or she is fully covered.