Originally Posted by
Truman_Sparks
Question in regard to the above.
If there is a max pay, i.e $6000 in the HSA just like the ppo, why would a major health care cost be a bigger deal in the HSA? I mean, if you had a traumatic event like a cancer care, wouldn't you just be on the hook for the max?
I guess it depends on how long the cancer treatment lasts. With my mom, it was 3 years. That would be $18,000 out of pocket, or more if the 36 months were split between 4 calendar years. With my current PPO plan, our max out of pocket is $1,500 per year.
I admit I don't have all the info on an HSA plan, and I might even advocate them for some people. From my perspective, HSA is to HMO, as 401(k) is to pension. It takes personal responsibility--something Americans want, but most can't handle. If you look at Americans as a whole when it comes to 401(k)s, it's not very impressive. Companies that offer HSAs need to have a lot of guidance on what an appropriate amount to save.