How much to put into Health Savings Acct?

MichiganJen · 11-07-2007, 02:33 PM

Hello!
I'm 39 years old, and have been ttc on the low burner for about 2 years. I've been using the ClearBlue Easy fertility monitor for several months. My periods are regular, and I have an LH surge, so I guess I'm ovulating. So that's good. I'm healthy and of average weight. I've never been pg. Thought I was last week, but it turned out to be food poisoning, instead.

I've decided to finally take the next step and make an appointment with an RE. My insurance is through Physicians Health Plan of Mid-Michigan, which offers 60% coverage of "infertility services". I think that means I have 60% coverage for office visits and diagnostic testing, but no coverage for artificial insemination, IVF or any other "creation of child". Blah blah blah. Makes me mad, because I used to live in a state with mandates... For prescriptions, I have Caremark (covers all drugs with varying copays, with maximum of $1000 out of pocket costs per year).

I haven't had any tests done yet, and neither has my husband. I haven't even chosen a RE yet -- I've printed out a list of doctors, but am frozen at the decision point. So I have no idea of our chances or what we'll need to do. However, I need to decide by this coming Monday (11/12) how much money to put into my health flexible spending account for 2008 so that the work we do have done will be pre-tax. Ugh!

Any advice on how to make these important decisions in an informed but timely manner? What would you budget under my circumstances?

Thanks!
Jennifer

sailboat2006 · 11-07-2007, 06:16 PM

I am in the same spot as you! I was in this position last year as well....I didn't know how much to put in. It was a total gamble with the $$. As it turned out, I should have put much more than what I put in....but it's a huge decision because you never know how long it will take to get pregnant & how much $$ you will need. I can say this.....and it may work for you....it may not...check with your HR people in your company. See for me, I plan to cycle this November 07 --- now cross my fingers -- if I get pregnant in November then I am not going to need to all the $$$ I just put in (My 2008 benefits choices are due this Friday!) -- BUT....if I don't get PREGNANT than I am going to need a lot more $$$ than what I just put in....I have no medication coverage so that's where all my $$ goes too....anyway, I was told that I can fill out an "exception" form or something like that -- where my company can go back in and make adjustments just as long as it is done before the 2007 year closes out. For me, this is a good thing as I can tweak the amount of $$ I put in based on what happens to me this November cycle. Hope that helps!??!!

Good luck!

hopefulmom2B · 11-10-2007, 04:13 PM

There are actually many ways to use the money before the end of the year. All those medications will be coming out before if you will be cycling in November. Also, at least in my case, You are able to extend out to March 2008 to use the funds. Try investigating that. I have found many ways to use the funds. If you have to use before the end of the year, you can also even try acupuncture. That is said to increase your chances of succes by 16%. I just did it on Wednesday when I went in for my transfer.

Hoping for a positive pregnancy this Friday!
Good luck to you all.

heatherknight · 11-25-2007, 03:18 PM

Are you talking about an FSA or HSA? they're 2 different things...
Hope I didn't get to this too late.
If you're talking about your FSA--the best way to do it is to see what your out of pocket expenses will be. If you have a deductible...take that entire amount. Copays, estimate how many visits you will have, plus regular prescriptions.
I did $1300 in my FSA last year, and used every bit of it. I have a $750 deductible, prescriptions that cost at least $100/mo, and coins after my deductible is met. I figured $750 + $550 for that one.
I'm doing $1600 next year b/c since I'm out, I have to pay my coinsurance amts out of pocket now. Wish I'd done more b/c I like the pre-tax aspect of it.
As for the time limit--March is when you have to have all of your receipts in (if your plan doesn't automatically transfer claims from your health plan to your FSA). All of the receipts have to be for 2007--your 2007 plan will not cover amounts used in 2008.
**just noticed your time limit--i'm sorry--I hope you got it all figured out.**

11-07-2007, 02:33 PM	#1 (permalink)
MichiganJen Registered User Join Date: Nov 2007 Location: Michigan Posts: 1	How much to put into Health Savings Acct? Hello! I'm 39 years old, and have been ttc on the low burner for about 2 years. I've been using the ClearBlue Easy fertility monitor for several months. My periods are regular, and I have an LH surge, so I guess I'm ovulating. So that's good. I'm healthy and of average weight. I've never been pg. Thought I was last week, but it turned out to be food poisoning, instead. I've decided to finally take the next step and make an appointment with an RE. My insurance is through Physicians Health Plan of Mid-Michigan, which offers 60% coverage of "infertility services". I think that means I have 60% coverage for office visits and diagnostic testing, but no coverage for artificial insemination, IVF or any other "creation of child". Blah blah blah. Makes me mad, because I used to live in a state with mandates... For prescriptions, I have Caremark (covers all drugs with varying copays, with maximum of $1000 out of pocket costs per year). I haven't had any tests done yet, and neither has my husband. I haven't even chosen a RE yet -- I've printed out a list of doctors, but am frozen at the decision point. So I have no idea of our chances or what we'll need to do. However, I need to decide by this coming Monday (11/12) how much money to put into my health flexible spending account for 2008 so that the work we do have done will be pre-tax. Ugh! Any advice on how to make these important decisions in an informed but timely manner? What would you budget under my circumstances? Thanks! Jennifer

11-07-2007, 06:16 PM	#2 (permalink)
sailboat2006 Registered User Join Date: Sep 2006 Posts: 144	It's a tough call..... I am in the same spot as you! I was in this position last year as well....I didn't know how much to put in. It was a total gamble with the $$. As it turned out, I should have put much more than what I put in....but it's a huge decision because you never know how long it will take to get pregnant & how much $$ you will need. I can say this.....and it may work for you....it may not...check with your HR people in your company. See for me, I plan to cycle this November 07 --- now cross my fingers -- if I get pregnant in November then I am not going to need to all the $$$ I just put in (My 2008 benefits choices are due this Friday!) -- BUT....if I don't get PREGNANT than I am going to need a lot more $$$ than what I just put in....I have no medication coverage so that's where all my $$ goes too....anyway, I was told that I can fill out an "exception" form or something like that -- where my company can go back in and make adjustments just as long as it is done before the 2007 year closes out. For me, this is a good thing as I can tweak the amount of $$ I put in based on what happens to me this November cycle. Hope that helps!??!! Good luck!

11-25-2007, 03:18 PM	#4 (permalink)
heatherknight Registered User Join Date: Jun 2002 Location: Texas Posts: 1,192	Are you talking about an FSA or HSA? they're 2 different things... Hope I didn't get to this too late. If you're talking about your FSA--the best way to do it is to see what your out of pocket expenses will be. If you have a deductible...take that entire amount. Copays, estimate how many visits you will have, plus regular prescriptions. I did $1300 in my FSA last year, and used every bit of it. I have a $750 deductible, prescriptions that cost at least $100/mo, and coins after my deductible is met. I figured $750 + $550 for that one. I'm doing $1600 next year b/c since I'm out, I have to pay my coinsurance amts out of pocket now. Wish I'd done more b/c I like the pre-tax aspect of it. As for the time limit--March is when you have to have all of your receipts in (if your plan doesn't automatically transfer claims from your health plan to your FSA). All of the receipts have to be for 2007--your 2007 plan will not cover amounts used in 2008. just noticed your time limit--i'm sorry--I hope you got it all figured out. __________________ Heather--32 single again DX with Endo and PCOS in 2000 Lap done Dec 2000 stage III-IV 2nd Lap done Aug 2003 stage I-II - severe scar tissue See profile for blog and page info!! Last edited by heatherknight; 11-25-2007 at 03:22 PM.

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11-10-2007, 04:13 PM	#3 (permalink)
hopefulmom2B Registered User Join Date: Oct 2007 Location: Palmetto Bay, FL Posts: 3	There are actually many ways to use the money before the end of the year. All those medications will be coming out before if you will be cycling in November. Also, at least in my case, You are able to extend out to March 2008 to use the funds. Try investigating that. I have found many ways to use the funds. If you have to use before the end of the year, you can also even try acupuncture. That is said to increase your chances of succes by 16%. I just did it on Wednesday when I went in for my transfer. Hoping for a positive pregnancy this Friday! Good luck to you all.