2016 HDHP Summary

hdhpI posted a progress report on our 2016 HDHP numbers back in September.

At the time our total YTD cost stood at $2,770, well under my goal of keeping it below $5,000. But I wasn’t counting our chickens before they hatched.

Our total costs ended up at $3,233! I have to keep in mind that Jay’s company seeded our HSA account with $1,500. Not counting this, the cost to us was still under $5,000. This year the company is seeding the account with $1,100. I’m not sure if there will be any more such seed money after 2017. 🙁

It’s a little early in the year to look where we’re at. I know our premiums will come to $2,078 and the HSA has already been seeded with the $1,100. I’d love to come in under $5,000 again. We’ll see how much it costs to get our daughter’s wisdom teeth out. She’s 22 and graduates in May, but will probably stay on our health plan until she’s 26. Our oldest son, at 27, is on his company’s plan now. Our middle child is 25 and will switch over to his company’s plan before the end of the year. Once our daughter is 26 our premiums will be reduced significantly (by $650) because we’ll switch from “employee and family” to “employee and spouse” status. And our prescriptions and doctor visits should be much lower since she accounts for about half of all our medical expenses. That is, of course, assuming our health stays the same – something that certainly isn’t guaranteed. In fact, it’s almost certain not to happen. 🙁

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