[bytor2112]

Originally Posted by MorningStar

So our baby is due in 5 weeks and my husband's company just decided that they are changing health insurance companies effective Sept. 1st. The good news is, the premium is lower. The bad news is, our new deductible will be $3000. We fulfilled my individual deductible with our current company, which is $350 ($1050 for family), but the new plan doesn't do individual deductibles within the family plan. So we're looking at possibly getting a whopping bill for $2650. After the deductible, we pay 20%. I think my husband is going to have a stroke. Our prescriptions go towards the deductible too, so that's going to be difficult too.

We could handle the deductible a lot better if it were little by little, but we don't know how we're going to manage paying it all at once. After the deductible is met, we would have to pay 20% for the hospital bill and we still have to pay 10% for all of my maternity visits with our current plan, which they bill you for at the end.

This is what I'm hoping for - that the baby will be ready to be born in August. A week from Sunday, I am allowed to go into labor, but I'm not due until Sept. 14th. My doctor won't induce for financial reasons (well, I wouldn't either), but I'm hoping she'll just be ready.

With this new plan we are getting an HSA account. Anyone familiar with those? It sounds cool, but I had no idea how much we could really afford to contribute to it each month. The company is going to pay over $100 into it.

A Health Savings Account allows you to set aside money for future use if you are in a high deductible health insurance plan. As a family you can contribute up to $5650.00 per year. If your husband company offers a salary reduction plan...then it would be pre-tax dollars.

If not salary reduction, then you can contribute and it is considered an "above the line tax deduction." In other words, if you earn $100,000 per year and you contribute $5650.00, your taxable income is reduced by that amount.