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HSA vs. new job offer health/retirement benefits

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  • HSA vs. new job offer health/retirement benefits

    I received a hospital job offer today. They’re health insurance benefits include:

    $0 copay for doctor office visits

    $5 copay for each prescription

    $15 vision care allowance toward the purchase of eyeglass lenses, frames, and contact lenses every 24 months

    $0 co-payment for mental health visits and unlimited inpatient and outpatient visits per calendar year

    $2,500 hearing aid allowance per device, per member, every 3 years

    There is no deductible. The hospital covers 100% of the premiums and nothing is deducted from my paycheck. If I work for them for at least 10 years I can continue this same coverage with premiums being paid for throughout retirement. Additionally they will reimburse my Medicare Part B premiums as long as I assign Medicare Parts A, B, and D to them. My wife would also be eligible for these benefits.

    The thing is, under this plan I do not qualify to open up a HSA and therefore cannot take advantage of all the tax advantages it has to offer.

    All this being said, would the benefits of having a health plan like this during retirement outweigh the benefits one would receive from maxing out their HSA every year until retirement? I’ve been reading a lot of WCI forums and the book and was really set on maxing out a HSA to function as a stealth IRA and tax free medical expenses during retirement. Basically I just wanted to know if this offer was an even better deal.

    Thanks for any replies in advance.

  • #2
    I would normally say compare the numbers, blah, blah, blah, but this sounds like an offer you can't refuse, especially if you work there for 10 years or more. Take it and build your taxable account with what you w/h contributed to the HSA instead.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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