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Interested_Redditor t1_iyaa1m1 wrote

You're leaving out the $1200 that the plan pays into your HSA that's free money. You can also contribute more if you want, invest that money and let it grow tax free. A young person with generally good health, the hdhp programs are a great deal.

If you get the hdhp, look into using Lively as your HSA manager. They are great!

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Slevinkellevra710 t1_iyac2vj wrote

Where does the $1200 come from?

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Interested_Redditor t1_iyadddj wrote

From the plan.

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johndburger t1_iyaf02q wrote

Glad your employer contributes to your HSA, but many don’t, apparently including OP’s.

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wilsonhammer t1_iyae4te wrote

source?

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Slevinkellevra710 t1_iyaefwi wrote

Yeah, I've never seen that happen in the 3 different hsa plans I've had. You have to find your own account, unless you have an especially generous employer. Even then, there might be tax implications.

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coneslayer t1_iyac5gl wrote

I’m missing where it says the plan or employer makes an HSA contribution?

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Interested_Redditor t1_iyadbyl wrote

Literally every HDHP I've ever had and I've had them since they were available, has made the contribution.

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BlackbeltKevin t1_iyaer20 wrote

This isn’t standard. Some employers contribute and others don’t. I’ve had 3 different HDHP plans and only one of the companies contributed to the HSA.

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Fraxcat t1_iyafu5c wrote

That's completely bullshit. I work for a telecommunications company with billions in revenue and a worldwide presence, and not once in 15 years have they EVER contributed A SINGLE CENT to my HSA.

A sample size of one used as the basis to tell everyone else they're wrong is asinine.

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Interested_Redditor t1_iyakk15 wrote

>A sample size of one used as the basis to tell everyone else they're wrong is asinine.

You're doing the same thing. You say you've never seen it so I'm wrong.

All I know is that it's been included in the plan documents of every HDHP I've ever had. Twice with Aetna/Payflex, I've had to call and bitch about not receiving it.

Then I got it.

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Fraxcat t1_iyalg7n wrote

Yes. Because 5+ people saying you're wrong and that it's not every HDHP plan is certainly invalidated because you called YOUR PLAN admins and they did what they said they would in YOUR DOCUMENTATION FOR YOUR PLAN.....

Meanwhile, tons of us have HDHP plans with nothing given by the employer. Maybe someone that needs this info will be smart enough to read all sides and make a decision for themselves and not just blindly accept one side or the other....but let be honest....most of Reddit is Americans (like myself).....odds are bad.

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Interested_Redditor t1_iyan0tp wrote

I guess I assumed it was every HDHP because every HDHP I've had, on/off spanning 23 years of working, has made the contribution.

The wording in my insurance documents say, specifically, "the plan will contribute....." so I just made the reasonable conclusion that the insurance plan is making these contributions and that they wouldn't be doing it unless required to do so.

Fuck me, right?

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DemDave t1_iybfzlc wrote

I've had employers who have and employers who haven't. And of those who did, the amounts have varied; my current employer only contributes $650/year, but it's been as high as $1,000.

At least the ones who haven't contributed have offered the plan with no out-of-pocket premiums.

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zk2997 OP t1_iyaby1a wrote

They don’t mention anything about free money in the benefits guide unless it’s a standard for all plans that I’m unaware of. That would be a game changer of course, but I don’t see it here.

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Baby_Hippos_Swimming t1_iyac759 wrote

I'm not sure where this $1200 figure comes from, my company is definitely not contributing. I just pay a lower premium.

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edamommy_ t1_iyah00a wrote

It’s not standard, employers often give this as an added perk. It’s $1,200 because that’s the IRS limit of what an employer can contribute (but only if they do opt to contribute).

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steveliv t1_iye8qgh wrote

Not sure you are correct on the $1200 limit, as my employer contributes $3000 total ($750 per quarter). The only limitation is the max $7300 for Families and $3650 for a single person. Keep in mind both employee and employer contributions are included in those max amounts.

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edamommy_ t1_iyetwdv wrote

Ah gotcha! I wonder why so many have that same amount then.

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steveliv t1_iyeucsc wrote

just a coincidence perhaps, but it does equal to $100 per month

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Interested_Redditor t1_iyac7mr wrote

It's in every HDHP.

I had to fight for it a couple of different years, but it's a required thing for an HDHP.

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stratigary t1_iyacn6k wrote

I have an HDHP and I definitely don't get a $1,200 contribution from my employer.

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coneslayer t1_iyad8qb wrote

No it isn’t. My wife’s HDHP contributes $750/year and mine contributes zero.

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dcdave3605 t1_iyad7qr wrote

Definitely not. Completely depends on the employer

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KookyKrista t1_iyaihru wrote

Definitely not. You are eligible for an HSA (emphasis on ACCOUNT) when you have a HDHP, but your employer is under no obligation to contribute to that account on your behalf (although many do).

My experience is two different employers that put $500 annually in your individual account ($1000 family). The replies in this thread show a range of employer contributions, starting at nothing.

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steveliv t1_iye8zm3 wrote

Has this been the same employer or different ones? Your employer can choose to contribute $1200, but it is not legally mandated, and an employer can choose to have no contribution.

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