HSA & a baby - what should wife do?

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learning30
Posts: 58
Joined: Thu Aug 10, 2023 11:34 pm
Location: Dana Point, CA

HSA & a baby - what should wife do?

Post by learning30 »

Hello,

I am curious what most people do with health insurance after getting married/having a baby. For context, my fiance and I both have good jobs with decent insurance and I am thinking of what to do with our health insurance once planning for a baby. Right now I have the HDHP with HSA and cashflow expenses. She does the low deductible plan. When people get married, do they just join on one insurance or keep both seperate through their employers? If she wants to start doing the HDHP, should she do it now and then switch back once we start trying for a baby? Then we just put all the medical expenses on the better insurance? How does all this work?
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mhadden1
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Location: North Alabama

Re: HSA & a baby - what should wife do?

Post by mhadden1 »

Probably you will need to do some analysis of costs and benefits to pick the best insurance combination. Hopefully the HR staff can help with your questions. Colleagues with children will also know a lot.

For years, DW's health plan served as backup to mine, covering all the co-pays and such, leading to $0 out of pocket. Good times!
Retired 12/31/2015
Little Bird
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Joined: Wed Mar 22, 2017 10:49 pm
Location: Usa

Re: HSA & a baby - what should wife do?

Post by Little Bird »

For the past couple years my wife & I have gone with the HDHP and HSA through my wife's employer due to lower overall costs.
This year as we're expecting end of March we switched, my wife going on her company's low cost PPO and myself starting my company's HDHP & HSA.
The main reason for this is that childbirth is almost 100% covered under my wife's low cost PPO. After the birth we'll put the baby on that plan and with a $400 family deductible that should make for lower costs through the rest of the year. I am usually healthy and keeping my fingers crossed for this year so that my HSA contri will be an overall benefit.
For next year we'll have to see whether we change back to the HDHP & HSA for everyone. Keeping my wife and baby on one HDHP & HSA and me on another is lower costs but a higher overall deductible if we're all sick. Costs really skyrocket when all 3 of us are on my wife's HDHP and my HDHP for anything except Single is a joke in terms of costs.
happy_statistician
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Joined: Sun Jan 03, 2016 3:51 pm

Re: HSA & a baby - what should wife do?

Post by happy_statistician »

This varies a lot with plans. My husband is alone on his high deductible plan, and I am with our two kids on ours. Typically he spends little on healthcare and the kids and I spend a ton. Just look at your options and run some scenarios.
Topic Author
learning30
Posts: 58
Joined: Thu Aug 10, 2023 11:34 pm
Location: Dana Point, CA

Re: HSA & a baby - what should wife do?

Post by learning30 »

Great advice, thank you both :sharebeer
FIRWYW
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Re: HSA & a baby - what should wife do?

Post by FIRWYW »

Have to look and compare the whole package for your options. I have had newborns in the NICU for a short time and saw how expensive the bills can be (fortunately I was a poor college student at the time and Medicaid picked up the tab). However, even if they had been on my current high deductible insurance with HSA, we still would have saved compared to the low deductible plan because the insurance rates are so different. (Basically if I hit my out of pocket maximum every year, it is still cheaper for me to go high deductible with HSA. From what I see on here, not everyone has such a big different in cost).
Carl53
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Re: HSA & a baby - what should wife do?

Post by Carl53 »

FIRWYW wrote: Sun Feb 11, 2024 10:37 pm Have to look and compare the whole package for your options. I have had newborns in the NICU for a short time and saw how expensive the bills can be (fortunately I was a poor college student at the time and Medicaid picked up the tab). However, even if they had been on my current high deductible insurance with HSA, we still would have saved compared to the low deductible plan because the insurance rates are so different. (Basically if I hit my out of pocket maximum every year, it is still cheaper for me to go high deductible with HSA. From what I see on here, not everyone has such a big different in cost).
I can vouch for the ouch about NICU. Granddaughter was born at 26 weeks and spent 3+ months in NICU while mom had about a week stabilizing preeclampsia. DS said the charges were north of $400k of which he paid virtually nothing thanks to a recently enacted policy by his state employer. Granddaughter approaching 1.5 years now and doing well, but some minimal therapy continues.
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