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.
$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.
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