FEHB Aetna HDHP HSA Costs

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 another follow-up.

(Note: This is my final post regarding Aetna Health Savings Account (HSA).  I’ve switched employers, so this is my last month on the FEHB Aetna Plan.)

The answer is still NO.   We’re about $800 behind where we were last year with the conventional Blue Cross/Blue Shield (BCBS) plan.

Doctor and pharmacist visits for the month of August bring the 2013 Aenta YTD total to $5545, versus $4761 with BCBS (basic) during the same time period in 2012.

I was hoping that reaching the deductible would help our ‘medical cash burn rate’, but such has not been the case.  Since hitting the family $3,000 deductible in June, our Burn Rate for the Aetna High Deductible plan is still almost 2x our monthly expenses (all-in) on BCBS Basic.

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FEHB Aetna HDHP HSA Costs

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 another follow-up.

So far the answer is still NO.  We’re about $400 behind where we were last year with the conventional Blue Cross/Blue Shield (BCBS) plan.

Doctor and pharmacist visits for the month of June bring the 2013 Aenta YTD total to $4590, versus $4189 with BCBS (basic) during the same time period in 2012.

Continue reading


 

FEHB Aetna HDHP HSA Costs

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 another follow-up.

So far the answer is NO.  We’re about $300 behind where we were last year with the conventional Blue Cross/Blue Shield (BCBS) plan.

Doctor and pharmacist visits for the month of June bring the 2013 Aenta YTD total to $3962, versus $3647 with BCBS (basic) during the same time period in 2012.

Continue reading

Transfer money from IRA to HSA

Transfer money from IRA to HSA

Got a big fat IRA balance staring you in the face, taunting you as you await your 60th birthday? Ever wish there was a way to tap your IRA funds TODAY for good use, WITHOUT PENALTY?

Well, good news. There IS a loophole where you can raid your IRA and transfer the money directly to your Health Savings Account (HSA). As with anything having to do with removing money from an IRA, there is a paperwork minefield you must navigate. You have to meet some conditions: Continue reading