Now that all the paperwork for healthcare open enrollment is starting to show up, my wife and I have had to sit down and talk about the various options we have between our two companies and how we should change our plans. The reality is that it’s looking like we won’t be changing anything for 2011. That doesn’t mean that things aren’t changing. My company is changing our plan and will be expecting us to shoulder a much larger deductible in 2011. 2012 looks even worse. What that means for us is that we’ll need to start planning for additional healthcare expenses.
I haven’t really spent much time on it so far but I will be looking in to the HSA’s (health savings accounts). If I can cover those deductibles with pretax money, it should help a bit. I’ll have to spend some time investigating the ins and outs of the HSA and all the rules. I don’t believe my health plan is considered a “high deductible account†so that may limit my ability to use an HSA. Like I said, I need to spend some time on the subject.
Anyway, I’m sure there are millions of people all over the country going through similar exercises. Maybe we should create a new “open enrollment†holiday that would fall between Halloween and Thanksgiving. It wouldn’t have to be one of those “gift†type holidays, although it could be. How about wrapping up fruits and vegetables for each other?
Long time reader here .. I just had to chime in about the HSA though. I wouldn’t do it if I were you – I’ve found they are more for people who can take the risk of using a high-deductible plan such as single males in their 20’s. For people like you and me who have a family and can afford something a better health plan, it’s worth the extra money. Do your family a favor and stick with the HMO/PPO with FSA.