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Old 03-11-2019, 12:12 PM   #24
DebNJim B
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Join Date: Jan 2018
Location: Northville, NY
Posts: 807
M.O.C. #21158
I also sit on the Board of a Not-for-profit that provides health insurance for our employees, about 400, with employees paying 15%.

We switched to a high deductable plan ($1500/$3000) and set up HSA's for everyone. We cut their premiums share to 0% and fully funded their HSA's for them. The premiums were so much lower we still saved money overall and now that the people have ownership in their cost, they pay the deducable out of their HSA that they own, the overall usage dropped by more than 50%. When they retire what ever is left in their HSA is converted to an IRA and goes with them. In the end everyone saved money including the insurance co. Just shows that when something is perceived as free the usage skyrockets. When polititians offer "free" universal health for everyone I shutter to think how that's going to turn out.
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Jim B
2017 Lariat F-350 FX4, CC, SB, 6.7 PSD 4WD
2018 MONTY 3731FL, at our private winter site in GA

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