Can a Federal Employee save money by switching his family of four to a High Deductible Health Plan (HDHP) / Health Savings Account (HSA)? Here’s a follow-up.
So far we’ve survived flu season and our first round of Brand-Name prescriptions for 2 members of the family. Getting one of the Brand Name prescriptions approved was a major goat rodeo, while the other Brand-Name prescription was easy to obtain but came with some serious sticker shock (more on this particular issue in a future post).
While one of the drugs was $593 for a 90-day supply(!), amazingly we’re still not far behind where we would be if we had stuck with BCBS Basic (FEHB code 112). We’ve spent $1438 YTD on Aetna HDHP/HSA versus $1263 YTD last year with BCBS:
Other FEHB Aetna HDHP/HSA Notes:
- Since January was a partial month, and HSA’s by law cannot provide premium rebates until February, Aetna went ahead and kicked us 2 premium rebates of $125 in to the month of February. A pleasant surprise !
- Still no costs out of pocket for preventative dental (!)
- One Doctor’s office visit to a GP (our Family Practitioner, part of Aetna’s “Preferred Network”) cost us $188. In other “Statements of benefit” from Aetna we have noticed that there was a ‘Top Line’ charge, and then the ‘Aetna Member Rate’ (kind of like the ‘wholesale rate’). Even though this was ‘only’ a visit to a GP, Aetna had no ‘Aetna Memebr Rate’ for our GP, so we will end up paying the ‘Top Line’ cost of $188 🙁
- Contrary to Aetna’s brochure, you cannot set up an automatic allotment to your FSA using FEDFLEX. Instead, go to DFAS (or agency payroll office) and set up an Allotment using your HSA routing number and account number. Sadly, Aetna does not make this info readily available- You have to call Aetna to get this info, as it is not listed in any of your enrollment or monthly statement paperwork.
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