Where do I begin? Yes, HSAs can be good and Yes, they can be painful. There is just so much they do not tell you. Ask the questions: What is my deductible? Mine was $3,000.
Does that include Medicines from the pharmacies? What does it include? Then they get you with the “Necessary and reasonable costs” line. In who’s opinion? If I have to get the service, I need the service, and it helps, to me that is necessary and reasonable, but the insurance company does not look at it that way. Just like preventative maintenance.
What I didn’t know was that I would have to keep up with and constantly send in what I paid, on a claims form, to get them to credit me towards my deductible. I would send in paid bills with the required claims form, I faxed it, I mailed it, and they said, well we didn’t get it. I even go a specialist from my HR dept at work to help me get it straightened out the insurance company. They were so behind. I had that I had met my deductible 3 months ago, but they had that I had not met my deductible yet. So I had to keep sending them everything I paid for and ask them to credit my deductible. And of course, not all of it goes toward your deductible. I am still battling them and they are still not caught up. I have finally paid my doctors, and chiropractor to keep them off my back, and then I just send it into the insurance company.
So let’s just take a moment to clarify. I have $3000 of my own money in a Health Saving Account to pay for my medical bills, but I have already spent that and am now paying with my own money. Then I have to fight the insurance company to get them to pay me back because I have already used my $3000 deductible from my Health Savings Account, and I have surpassed my out-of-pocket maximum, but I have not gotten the insurance company to pay me back yet.
There maybe good things about it, if you do not really have to use it or never meet your deductible, but in my case, the hassle is not worth it. But here is the kicker. The first year we didn’t have to take the Health Saving Account, but the second year; we were required to take it. We had no choice. So I would say try to keep the power of getting choices to take it or not. I am sure eventually, you will have no choice either because it is cheaper for the companies.
