My employer:
Annual Fees: $1,080
Deductible: $1,750
Max out of pocket: $4,000
Employer contributes $750/yr to a HSA that I can contribute $4,150 to and invest.
Tricare Reserve Select:
Annual Fees: $623.40
Deductible: $188
Max out of pocket: $1,256
I am single and do not plan on starting a family. Is it smarter to stay with my employer’s health insurance so that I can keep access to the HSA and investment contributions? Or is it better to choose the lower deductible and max OOP with TRS?
Heath Insurance advice please. Low deductible vs access to HSA
byu/Junior_Usual_4991 inMilitaryFinance
Posted by Junior_Usual_4991
2 Comments
The different of 350$ a year for the lower deductible and less out of picket id stay with tricare.
It sounds cool but i would gamble a single injury that would take the out of pocket to the plan cap and wipe out years of the 750 HSA contribution.
Your tricare , reserve select, prevents you from having an HSA. Your employer plan will be your primary insurance and tricare reserve selection is considered an “entitlement” vs insurance but that prevents you from qualifying for an HSA cause the tricare portion picks up what’s not covered by your employer plan so you won’t qualify for a HDHI.
Sorry to be a buzzkill but IRS rules.