GEHA

WaterToGo

Trusted Contributor
Messages
105
I have GEHA HDHP. It works best if you know you have something big coming up. I had a procedure this year that isntantly put me past the deductible and I started paying 5% on everything. Insurance HSA contribution is a good incentive to get if you're healthy. But remember you can open your own HSA as well.

Switching to Elevate because I know I have a lot of imagining/radiology coming up and it's a flat fee in that plan
 

Viceversa

Member
Messages
4
I'd strongly recommend taking a look at the GEHA HDHP plan. I love it. People sleep on the HSA option this plan provides - the most under utilized financial tool IMO.
For Self +1 the plan will contribute $150 monthly to your HSA. That covers an entire pay period premium ($135.90), plus some! The HSA is triple tax advantaged (tax free contribution, growth, withdrawal) so you have a nice fat account for when you inevitably have health care bills down the road. Best of all, after age 65 you can withdraw from your HSA for non-health expenses, only it's taxed as if it were an traditional IRA - keep in mind it's been growing capital gains free.

The other nice perks include 2 free dental cleanings per year and an annual $5 copay eye exam. Plus 0 copay preventative care. For healthy people this plan can't be beat. But the HSA is the icing on the cake.
Can also transfer out your premium pass through balance every month (no fee) to another brokerage (fidelity here) and invest with no minimum. HSAbank requires 1000 balance before investing. Just remember to save all receipts. GEHA HDHP also gives you an additional 250 a year if you self report a few questions every year through their Health Balance and Healthequity sites.

 

julietoscar

Active Member
Messages
77
I think it's the no deductible and know what services will cost. I looked at the detailed bill for when I had an eye surgery years ago and the facility fee alone for an out patient eye surgery was over $40k. 3 hours in the building and they wanted $40k.

Elevate does seem like a solid option.
Stories like this are what scares me about the HDHP which I believe has a 5% charge for surgery, so you'd be out of pocket $2,000? Anything can happen and hospital billing is so fucked up. I'd rather have predictable costs.
 

Peter Gibbons

Legendary Member
Messages
1,817
Stories like this are what scares me about the HDHP which I believe has a 5% charge for surgery, so you'd be out of pocket $2,000? Anything can happen and hospital billing is so fucked up. I'd rather have predictable costs.
Exactly. You are perfectly healthy and rarely go the doc right up to the point where you are not and need to see some specialist that isn't fully covered or you need some surgery. I think they can be a good idea for some but I dunno if I'd go that road at the point I am in life now with a family and stuff.
 

Robert_Boucher

Forum Sage
Messages
728
Another thing I experienced with both BCBS and GEHA was an out of network ER Dr at an In network hospital. BCBS initially stated they wouldn't cover the visit the lady got nasty with me so I had to write to the state insurance board to get help. 8 months later they finally decided to cover it. Same thing happened with GEHA but they took care of it in the first call no questions asked. I've heard horrible things about their customer service but I haven't had any issues.
 

Uglytaco

Trusted Contributor
Messages
188
I'd strongly recommend taking a look at the GEHA HDHP plan. I love it. People sleep on the HSA option this plan provides - the most under utilized financial tool IMO.
For Self +1 the plan will contribute $150 monthly to your HSA. That covers an entire pay period premium ($135.90), plus some! The HSA is triple tax advantaged (tax free contribution, growth, withdrawal) so you have a nice fat account for when you inevitably have health care bills down the road. Best of all, after age 65 you can withdraw from your HSA for non-health expenses, only it's taxed as if it were an traditional IRA - keep in mind it's been growing capital gains free.

The other nice perks include 2 free dental cleanings per year and an annual $5 copay eye exam. Plus 0 copay preventative care. For healthy people this plan can't be beat. But the HSA is the icing on the cake.
Yeah listen to this guy. If you’re military and are covered by the VA you can forget about the deductible, just get seen at the VA the beginning of the year til you “meet” the x amount of the deductible and they’ll pay 90-95% after that.

You pay $135/paycheck= $270/month but FAA puts $150 into HSA, so you’re really paying for half
 

mspmn

Member
Messages
7
I've had GEHA HDHP for years, love it. No problems with coverage and customer service has been great. The HSA is great for the tax advantages already mentioned. Yes, $1500 deductible for single. But, also remember there is an Annual Out of Pocket Maximum of $5000 (for single), which includes the $1500 deductible. Net premium is about $27 per pay period (insurance cost minus GEHA contribution to HSA) Plus, you can contribute more to the HSA on your own, which is an above the line deduction at tax time.

I've accumulated about $10k in my HSA. So if the worst were to happen, I have two years worth of medical expenses covered with no impact on my regular income. If the worst doesn't happen, at 65 I have a tax-advantaged account to do with whatever I want. I really think the HDHP plans are vastly over looked.
 
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Mariov

Lurker
Messages
3
Can also transfer out your premium pass through balance every month (no fee) to another brokerage (fidelity here) and invest with no minimum. HSAbank requires 1000 balance before investing. Just remember to save all receipts. GEHA HDHP also gives you an additional 250 a year if you self report a few questions every year through their Health Balance and Healthequity sites.

I’m pretty sure they no longer require the 1000 min so it can all be invested with TD Ameritrade without fees.
 

Termine

⭐SuperStar
I ♥ pointSixtyFive
Messages
551
How do you do a HSA pass through to another account?
You can't, the "pass through" portion always goes to the HSA Bank account. But you can go in Employee Express and set up a recurring deduction to a third-party HSA of your choosing, and every so often fill out a form to transfer the passthrough money from HSA Bank to your preferred account.
 

axman

Active Member
Messages
180
You can't, the "pass through" portion always goes to the HSA Bank account. But you can go in Employee Express and set up a recurring deduction to a third-party HSA of your choosing, and every so often fill out a form to transfer the passthrough money from HSA Bank to your preferred account.
Ah! That makes more sense. It would still have to be another HSA account though correct?
And would the form be with HSA bank or where do you find the form?
 

Termine

⭐SuperStar
I ♥ pointSixtyFive
Messages
551
Ah! That makes more sense. It would still have to be another HSA account though correct?
And would the form be with HSA bank or where do you find the form?
Yeah it would be an HSA (as opposed to an IRA or 401k or other tax-advantaged account) just with some other broker you prefer for whatever reason. The transfer-in form would usually come from the new account's broker, you fill it out and send it to HSA Bank and they move the money over.
 
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