FEHB 2011 Open Season

[burrocrat]

My insurance premium is deducted from my pay as usual. The premium goes to Aetna. Aetna puts $65 of that premium into a Debit card that is handled through, if I remember correctly, Chase National Bank. And I then use those funds in the debit card to pay for prescriptions, etc.

I'd be happy to answer any questions I can. Ask away.

ok, better. do dr.'s offices have a card swipe macheen so you can cover copays? do you pay online when get the bill with the card number like ordering of amazon? just go to the nearest atm and spill a few hundreds on the counter to the receptionist.

maybe it's kind of silly, but i need to know how it works before i take it apart.

 

[Steel_Magnolia]

ok, better. do dr.'s offices have a card swipe macheen so you can cover copays?

Yep. You can use it like any other debit card there.

do you pay online when get the bill with the card number like ordering of amazon?

Yeah. As long as it's a medical bill. (Don't know if they really check. I've never tried it anywhere I shouldn't.)

just go to the nearest atm and spill a few hundreds on the counter to the receptionist.

Nope. I don't think you can do that. But I could be wrong....

maybe it's kind of silly, but i need to know how it works before i take it apart.

That's not silly. It's smart to find out as much as you can about something this different.

 

[KevinD]

Can the balance in the HSA run out before the HD part is satisfied?

Can you use the card ahead of your deposits the way you can in a flex spending account?

 

[SWAVET]

Can the balance in the HSA run out before the HD part is satisfied?

Yes, especially for the first two years since you need to build up the account to cover HD when needed. I'm in my 2nd yrs and my current balance is over $10K.

Can you use the card ahead of your deposits the way you can in a flex spending account?

No, this is just like checking account as they (Chase) told me, you can only use when you have a balance. Just withraw at any ATM with your debit (HSA) at later time to reimburse yourself when the balance is available.

 

[burrocrat]

ok i did it. current plan premiums were going up to $90. i went for the HDHP at $100.

of the $2600 in premiums for the year, $1500 will 'pass through' into a HSA i can use to cover costs. as long a my medical expenses don't excede $1500 i figure i'm covered at 100%. all preventative visits and routine screening covered free. maybe we see the dr. twice a year for skinned knees or banged noses and such, if that pattern holds i'll have some change left over.

took the FEDVIP for another $20. plan on having some dental done for the family. whatever the health and dental policy doesn't cover will be paid from the HSA.

i still plan on coming out ahead with a bit of jingle in my pocket at the end. maybe one of the nurses will help me spend it. just got to get her to write up a reciept for the 'massage therapy'.

 

[burrocrat]

life insurance question, short time horizon to make the choice:

private policy with end of month deadline for signing up, no med visits, answer 3 simple questions, premium never goes up and benefits never go down. $46 per PP, $75k death benefit, 3x $ long term care coverage. let's see... $76k/$46PP=1630 payments before i put more in than i will take out, that's 62.7 years by the way, and the long term care thing too. i'm 43, so add 62 and i'd have to live to be 105 before i lose money on the deal. god i hope i don't make it that far, sheet i'll be glad if i'm still changing my own shorts at 80. (jm marketing).

or...

$250k coverage now for $20PP, no long term care, but premiums go up with age, and at 65 becomes a negative return situation. (WAEPA).

i only have the standard FEGLI 1 unit right now, cant up it without a dr. visit and i don't want to go there, but need to protect kids future.

what would/do you do?