Deleted
Posts: 0
May 2, 2024 10:05:53 GMT
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Post by Deleted on Nov 12, 2015 17:50:01 GMT
I haven't had an FSA for several years, but when I had one, you could access your full annual contribution on January 1, so if you elected to contribute $2500 to your FSA for the year, you could pay that full bill at the beginning of the year without any extra cash out of your pocket. ETA: I think the FSA max contribution is $2500, so you couldn't cover both prescriptions with an FSA. My HSA does not allow that and I *think* (but am not sure) it is against the rules for HSAs. If I have an FSA, my cost for the drug is $70 for a 90 day supply. With the HSA, I would have to wait until mid year to recoup the money. ? ? ? Neither an FSA or an HSA is an insurance plan - just savings vehicles. I'm not understanding why there would be any difference in cost of a prescription depending on which you have.
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basketdiva
Pearl Clutcher
Posts: 3,615
Jun 26, 2014 11:45:09 GMT
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Post by basketdiva on Nov 12, 2015 18:08:06 GMT
busypea- I understand they are savings. I'm using the wrong terms here!! I'm really trying to decide between a low cost plan anda high deductible. Papers from the employer were confusing me with the terms
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Deleted
Posts: 0
May 2, 2024 10:05:53 GMT
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Post by Deleted on Nov 12, 2015 19:13:30 GMT
Oh... I see, you are choosing between a higher premium/lower deductible plan with an FSA or a lower premium/higher deductible plan with an HSA.
My company provides some great calculators for us to use for determining the true cost to us of our various plans. I will see if any of them are publicly available and link if they are.
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Deleted
Posts: 0
May 2, 2024 10:05:53 GMT
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Post by Deleted on Nov 12, 2015 19:34:22 GMT
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Post by scrapperal on Nov 12, 2015 19:55:41 GMT
Thanks for the link @busypea!
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basketdiva
Pearl Clutcher
Posts: 3,615
Jun 26, 2014 11:45:09 GMT
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Post by basketdiva on Nov 13, 2015 0:16:22 GMT
Busypea- that site was a great help. Too bad my husband's employer doesn't put anything into doesn't put anything into the HSA account.
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