I just received my benefits options from residency for health insurance i have the options of a PPO for $155/month, EPO for $45/month and a HSA for $30/month. I have little to no idea what plans are best to pick. The PPO seems more flexible but it has a deductible, where as the EPO has no deductible. Im going to be at a University hospital program. Anyone have any advice what to pick?
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PPO vs EPO vs HSA
Started by jackets5
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This depends more on your anticipated healthcare needs than anything else.
Well, im single, take care of myself, no medical conditions, take zero medications, rarely go to the Dr. for much of anything maybe ocne a year for a URI type thing.
It's difficult to speak in specifics, but you sound like the textbook example of someone who should only get low premium/high deductible coverage.
It all depends upon the specifics of each of your options. That said, I agree that for a young healthy person with no planned medical issues, the HSA is likely the best option. One option I recommend to my residents is choosing the HSA for $30/month. Then, put the difference between the PPO and the HSA plan (155-30 = $125 per month) into your HSA. This way, you're "Spending" the same amount as the PPO, but you get to keep your HSA forever. The goal should be to get at least the deductible on your HSA plan (usually $2000) into the HSA.
Pick the cheapest one, pass go, collect the extra 200 or so.
Get the cheapest plan and save the difference. A HSA is an account so tax-advantaged that you would be foolish not to put some money in it.
