ADP will contribute $600 per year to the HSA. Plus it seems like folks from New Jersey will not be able to reduce the taxable wages. Anyone there can confirm?
Also - the high deductible plans ($1800 plus) are the ones that offer HSA. Is it really worth it for a single person?
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HSAs are typically better for really healthy or really sick people. It's counterintuitive but it's because HSA have the best cost share after the deductible has been met, so if you are really sick you will hit that deductible very early in the year.
If none of this makes sense to you just go with the PPO plan. I hate to say it but most people don't understand HDHP well enough to fully utilize it and end up just paying more for their healthcare.
Sharing the options I am working with right now.
- I can just skip and go elsewhere (PPO).
- I can (hope to) stay healthy and get the HSA plan. Not use it since the deductible is atrocious.
- I can get the non-HSA plan and maximize the next few months until enrollment by getting all preventative and exploratory yearly checkups done. And then switch to HSA next year.
I am single in my early 40m so I can probably risk being this cautious.
Thoughts?