Stacking Pennies . . .

I signed up for health insurance benefits at my new company today. I had essentially three choices.

HMO
I've never used an HMO, and though I have heard some negative press about them, I think it would work ok for me. I don't have health issues and am a low maintenance customer. Free to me, minimal copays ($15 for my monthly prescription). I don't think I would mind being forced to deal with a Primary Care Physician.

Traditional PPO account
This cost about $16 per a bi weekly pay period, so just $416 year for premiums. Same copays as the HMO. You can see any in-network doctor and have a lot more freedom in your medical care. You can see out of network doctors for reduced benefits.

PPO + Health Savings Account (HSA)
This is free to me, but is a high deductible plan. Preventative care is covered 100%, but everything else is out of pocket up to the deductible, then benefits kick in. With this plan, I am eligible for a HSA to put pre-tax dollars in to spend on medical care, which carry over year to year. My company will contribute $700 to this account. I believe the yearly deductible is about $1500, but I can't quite recall.

I used a HSA at my last job (which had worse benefit options) so I'm already comfortable with them. I felt doubts about my HSA at the end of last year, because almost all the money I put in I took back out to buy my prescriptions with. My company didn't contribute. However, regular insurance was still 60/mo, so I came out... Well, I think I came out a little behind using the Health savings Account at my last job. But you live, you learn. I pretty much immediately ruled out the traditional PPO, because it seemed so similar to the HMO, except you could see more doctors and you had to pay money for it. I didn't need the freedom. The HMO seemed like a really cheap option, so I considered it.

I was left to debate the HMO and the PPO+HSA. Barring catastrophe, I need very little medical care. I see the doctor once a year for a women's health check-up, and use birth control each month, which does cost $45 without coverage. Last year I got an eye infection and was fixed up for about $100. I exercise, but I don't play any physical sports. Or any sports, really.

So, I went with the HSA, and chose to contribute $1500 of my own money to it. At first glance, that seems like the most expensive choice. My company contribution will cover my prescription costs, and probably nearly all other costs, so the plan is still free to me. Except I'll also have $1500 stored up for future health expenses. Next year, I shouldn't have to contribute much at all, though I probably will try to build it a little each year. In the short term, it is less cash in my pocket now. But the money being set aside is mine. It offers flexibility in the long term.

Something to note, a big disadvantage of HSA's are the fees. Most plans you can find online have high fees and/or no investment options. My HSA administrator really is no better, but the company pays the fees for me. I'm not intending to use this account as a sort of IRA for health (as suggested by Jonathan on MyMoneyBlog), so investment opportunities aren't a big priority either.

Did I make the right choice? Well, it depends on if I have any major surprise medical issues this year. Let's hope it was a good choice.

In my industry, tuition reimbursement is pretty common. My current job has it, and my new job actually pays the tuition up front for you.

The problem I've run into is that Spring semester starts next week, and I am still finalizing my start date for my new job (most likely, February 1st). There is a class I'd really like to take this semester, but I don't want to pay for it out of my own pocket. I've been trying to get an answer from my new job about whether they will pay the bill for me (even some prorated ammount), or if I have to take a semester off from my distance learning program.

The cost for one class would be rough $1600. I could take this out of savings. Why would I do this, when employers typically pay for this cost? Well, I might do it in hopes that I can work something out with my new manager and get them to reimburse it. I might do it because the class sounds interesting and isn't offered often. I might do it so it won't take me even longer to finish my degree program. Since I have been unable to get an answer from the new job, I have seriously been contemplating paying for it out of pocket.

When it comes down to it though, $1600 is just too much money for me to spend. Here's to hoping they get me an answer soon!

In other news, I purhcased my rental insurance from Geico last night, with a 5k deductable. The reason I'm getting rental insurance, despite the fact that the value of the things in my apartment is probably less than the deductable, is the liability issues. The general rule (for me at least) is to insure yourself against thigns you can't afford to have happen. If my apartment burned down, I could afford to replace my belongings. That is why I have an e-fund. The policy also has some sort of "temporary living" terms that would help me out. What I couldn't afford is if my apartment burned down and it was blamed on me and I was sued for damages. I chose a high deductable, but also high "liability" coverage. It was only $163 for the year, and it was close to $300 for a more "reasonable" deductable of $1000 or $500.

I signed up for health insurance benefits at my new company today. I had essentially three choices.

HMO
I've never used an HMO, and though I have heard some negative press about them, I think it would work ok for me. I don't have health issues and am a low maintenance customer. Free to me, minimal copays ($15 for my monthly prescription). I don't think I would mind being forced to deal with a Primary Care Physician.

Traditional PPO account
This cost about $16 per a bi weekly pay period, so just $416 year for premiums. Same copays as the HMO. You can see any in-network doctor and have a lot more freedom in your medical care. You can see out of network doctors for reduced benefits.

PPO + Health Savings Account (HSA)
This is free to me, but is a high deductible plan. Preventative care is covered 100%, but everything else is out of pocket up to the deductible, then benefits kick in. With this plan, I am eligible for a HSA to put pre-tax dollars in to spend on medical care, which carry over year to year. My company will contribute $700 to this account. I believe the yearly deductible is about $1500, but I can't quite recall.

I used a HSA at my last job (which had worse benefit options) so I'm already comfortable with them. I felt doubts about my HSA at the end of last year, because almost all the money I put in I took back out to buy my prescriptions with. My company didn't contribute. However, regular insurance was still 60/mo, so I came out... Well, I think I came out a little behind using the Health savings Account at my last job. But you live, you learn. I pretty much immediately ruled out the traditional PPO, because it seemed so similar to the HMO, except you could see more doctors and you had to pay money for it. I didn't need the freedom. The HMO seemed like a really cheap option, so I considered it.

I was left to debate the HMO and the PPO+HSA. Barring catastrophe, I need very little medical care. I see the doctor once a year for a women's health check-up, and use birth control each month, which does cost $45 without coverage. Last year I got an eye infection and was fixed up for about $100. I exercise, but I don't play any physical sports. Or any sports, really.

So, I went with the HSA, and chose to contribute $1500 of my own money to it. At first glance, that seems like the most expensive choice. My company contribution will cover my prescription costs, and probably nearly all other costs, so the plan is still free to me. Except I'll also have $1500 stored up for future health expenses. Next year, I shouldn't have to contribute much at all, though I probably will try to build it a little each year. In the short term, it is less cash in my pocket now. But the money being set aside is mine. It offers flexibility in the long term.

Something to note, a big disadvantage of HSA's are the fees. Most plans you can find online have high fees and/or no investment options. My HSA administrator really is no better, but the company pays the fees for me. I'm not intending to use this account as a sort of IRA for health (as suggested by Jonathan on MyMoneyBlog), so investment opportunities aren't a big priority either.

Did I make the right choice? Well, it depends on if I have any major surprise medical issues this year. Let's hope it was a good choice.

In my industry, tuition reimbursement is pretty common. My current job has it, and my new job actually pays the tuition up front for you.

The problem I've run into is that Spring semester starts next week, and I am still finalizing my start date for my new job (most likely, February 1st). There is a class I'd really like to take this semester, but I don't want to pay for it out of my own pocket. I've been trying to get an answer from my new job about whether they will pay the bill for me (even some prorated ammount), or if I have to take a semester off from my distance learning program.

The cost for one class would be rough $1600. I could take this out of savings. Why would I do this, when employers typically pay for this cost? Well, I might do it in hopes that I can work something out with my new manager and get them to reimburse it. I might do it because the class sounds interesting and isn't offered often. I might do it so it won't take me even longer to finish my degree program. Since I have been unable to get an answer from the new job, I have seriously been contemplating paying for it out of pocket.

When it comes down to it though, $1600 is just too much money for me to spend. Here's to hoping they get me an answer soon!

In other news, I purhcased my rental insurance from Geico last night, with a 5k deductable. The reason I'm getting rental insurance, despite the fact that the value of the things in my apartment is probably less than the deductable, is the liability issues. The general rule (for me at least) is to insure yourself against thigns you can't afford to have happen. If my apartment burned down, I could afford to replace my belongings. That is why I have an e-fund. The policy also has some sort of "temporary living" terms that would help me out. What I couldn't afford is if my apartment burned down and it was blamed on me and I was sued for damages. I chose a high deductable, but also high "liability" coverage. It was only $163 for the year, and it was close to $300 for a more "reasonable" deductable of $1000 or $500.

I signed up for health insurance benefits at my new company today. I had essentially three choices.

HMO
I've never used an HMO, and though I have heard some negative press about them, I think it would work ok for me. I don't have health issues and am a low maintenance customer. Free to me, minimal copays ($15 for my monthly prescription). I don't think I would mind being forced to deal with a Primary Care Physician.

Traditional PPO account
This cost about $16 per a bi weekly pay period, so just $416 year for premiums. Same copays as the HMO. You can see any in-network doctor and have a lot more freedom in your medical care. You can see out of network doctors for reduced benefits.

PPO + Health Savings Account (HSA)
This is free to me, but is a high deductible plan. Preventative care is covered 100%, but everything else is out of pocket up to the deductible, then benefits kick in. With this plan, I am eligible for a HSA to put pre-tax dollars in to spend on medical care, which carry over year to year. My company will contribute $700 to this account. I believe the yearly deductible is about $1500, but I can't quite recall.

I used a HSA at my last job (which had worse benefit options) so I'm already comfortable with them. I felt doubts about my HSA at the end of last year, because almost all the money I put in I took back out to buy my prescriptions with. My company didn't contribute. However, regular insurance was still 60/mo, so I came out... Well, I think I came out a little behind using the Health savings Account at my last job. But you live, you learn. I pretty much immediately ruled out the traditional PPO, because it seemed so similar to the HMO, except you could see more doctors and you had to pay money for it. I didn't need the freedom. The HMO seemed like a really cheap option, so I considered it.

I was left to debate the HMO and the PPO+HSA. Barring catastrophe, I need very little medical care. I see the doctor once a year for a women's health check-up, and use birth control each month, which does cost $45 without coverage. Last year I got an eye infection and was fixed up for about $100. I exercise, but I don't play any physical sports. Or any sports, really.

So, I went with the HSA, and chose to contribute $1500 of my own money to it. At first glance, that seems like the most expensive choice. My company contribution will cover my prescription costs, and probably nearly all other costs, so the plan is still free to me. Except I'll also have $1500 stored up for future health expenses. Next year, I shouldn't have to contribute much at all, though I probably will try to build it a little each year. In the short term, it is less cash in my pocket now. But the money being set aside is mine. It offers flexibility in the long term.

Something to note, a big disadvantage of HSA's are the fees. Most plans you can find online have high fees and/or no investment options. My HSA administrator really is no better, but the company pays the fees for me. I'm not intending to use this account as a sort of IRA for health (as suggested by Jonathan on MyMoneyBlog), so investment opportunities aren't a big priority either.

Did I make the right choice? Well, it depends on if I have any major surprise medical issues this year. Let's hope it was a good choice.

In my industry, tuition reimbursement is pretty common. My current job has it, and my new job actually pays the tuition up front for you.

The problem I've run into is that Spring semester starts next week, and I am still finalizing my start date for my new job (most likely, February 1st). There is a class I'd really like to take this semester, but I don't want to pay for it out of my own pocket. I've been trying to get an answer from my new job about whether they will pay the bill for me (even some prorated ammount), or if I have to take a semester off from my distance learning program.

The cost for one class would be rough $1600. I could take this out of savings. Why would I do this, when employers typically pay for this cost? Well, I might do it in hopes that I can work something out with my new manager and get them to reimburse it. I might do it because the class sounds interesting and isn't offered often. I might do it so it won't take me even longer to finish my degree program. Since I have been unable to get an answer from the new job, I have seriously been contemplating paying for it out of pocket.

When it comes down to it though, $1600 is just too much money for me to spend. Here's to hoping they get me an answer soon!

In other news, I purhcased my rental insurance from Geico last night, with a 5k deductable. The reason I'm getting rental insurance, despite the fact that the value of the things in my apartment is probably less than the deductable, is the liability issues. The general rule (for me at least) is to insure yourself against thigns you can't afford to have happen. If my apartment burned down, I could afford to replace my belongings. That is why I have an e-fund. The policy also has some sort of "temporary living" terms that would help me out. What I couldn't afford is if my apartment burned down and it was blamed on me and I was sued for damages. I chose a high deductable, but also high "liability" coverage. It was only $163 for the year, and it was close to $300 for a more "reasonable" deductable of $1000 or $500.

I signed up for health insurance benefits at my new company today. I had essentially three choices.

HMO
I've never used an HMO, and though I have heard some negative press about them, I think it would work ok for me. I don't have health issues and am a low maintenance customer. Free to me, minimal copays ($15 for my monthly prescription). I don't think I would mind being forced to deal with a Primary Care Physician.

Traditional PPO account
This cost about $16 per a bi weekly pay period, so just $416 year for premiums. Same copays as the HMO. You can see any in-network doctor and have a lot more freedom in your medical care. You can see out of network doctors for reduced benefits.

PPO + Health Savings Account (HSA)
This is free to me, but is a high deductible plan. Preventative care is covered 100%, but everything else is out of pocket up to the deductible, then benefits kick in. With this plan, I am eligible for a HSA to put pre-tax dollars in to spend on medical care, which carry over year to year. My company will contribute $700 to this account. I believe the yearly deductible is about $1500, but I can't quite recall.

I used a HSA at my last job (which had worse benefit options) so I'm already comfortable with them. I felt doubts about my HSA at the end of last year, because almost all the money I put in I took back out to buy my prescriptions with. My company didn't contribute. However, regular insurance was still 60/mo, so I came out... Well, I think I came out a little behind using the Health savings Account at my last job. But you live, you learn. I pretty much immediately ruled out the traditional PPO, because it seemed so similar to the HMO, except you could see more doctors and you had to pay money for it. I didn't need the freedom. The HMO seemed like a really cheap option, so I considered it.

I was left to debate the HMO and the PPO+HSA. Barring catastrophe, I need very little medical care. I see the doctor once a year for a women's health check-up, and use birth control each month, which does cost $45 without coverage. Last year I got an eye infection and was fixed up for about $100. I exercise, but I don't play any physical sports. Or any sports, really.

So, I went with the HSA, and chose to contribute $1500 of my own money to it. At first glance, that seems like the most expensive choice. My company contribution will cover my prescription costs, and probably nearly all other costs, so the plan is still free to me. Except I'll also have $1500 stored up for future health expenses. Next year, I shouldn't have to contribute much at all, though I probably will try to build it a little each year. In the short term, it is less cash in my pocket now. But the money being set aside is mine. It offers flexibility in the long term.

Something to note, a big disadvantage of HSA's are the fees. Most plans you can find online have high fees and/or no investment options. My HSA administrator really is no better, but the company pays the fees for me. I'm not intending to use this account as a sort of IRA for health (as suggested by Jonathan on MyMoneyBlog), so investment opportunities aren't a big priority either.

Did I make the right choice? Well, it depends on if I have any major surprise medical issues this year. Let's hope it was a good choice.

In my industry, tuition reimbursement is pretty common. My current job has it, and my new job actually pays the tuition up front for you.

The problem I've run into is that Spring semester starts next week, and I am still finalizing my start date for my new job (most likely, February 1st). There is a class I'd really like to take this semester, but I don't want to pay for it out of my own pocket. I've been trying to get an answer from my new job about whether they will pay the bill for me (even some prorated ammount), or if I have to take a semester off from my distance learning program.

The cost for one class would be rough $1600. I could take this out of savings. Why would I do this, when employers typically pay for this cost? Well, I might do it in hopes that I can work something out with my new manager and get them to reimburse it. I might do it because the class sounds interesting and isn't offered often. I might do it so it won't take me even longer to finish my degree program. Since I have been unable to get an answer from the new job, I have seriously been contemplating paying for it out of pocket.

When it comes down to it though, $1600 is just too much money for me to spend. Here's to hoping they get me an answer soon!

In other news, I purhcased my rental insurance from Geico last night, with a 5k deductable. The reason I'm getting rental insurance, despite the fact that the value of the things in my apartment is probably less than the deductable, is the liability issues. The general rule (for me at least) is to insure yourself against thigns you can't afford to have happen. If my apartment burned down, I could afford to replace my belongings. That is why I have an e-fund. The policy also has some sort of "temporary living" terms that would help me out. What I couldn't afford is if my apartment burned down and it was blamed on me and I was sued for damages. I chose a high deductable, but also high "liability" coverage. It was only $163 for the year, and it was close to $300 for a more "reasonable" deductable of $1000 or $500.