Imagine that a friend tells you her employer has given her a choice between two health insurance
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Question:
Imagine that a friend tells you her employer has given her a choice between two health insurance plans. She must choose between a PPO insurance plan with a flexible spending account (FSA) that has a limit of $2,500 OR high-deductible plan with a health savings account (HSA), to which her employer will contribute $1,000. Your friend has a spouse and two children who will be on the plan. Her premiums on the high-deductible plan will be $1,000 less per year than on the other plan. However, the deductible for the regular PPO plan is $1000 per individual and $3,000 family, and on the high-deductible plan is $2,000 individual and $4,000 family.
Requirements
- Explain which plan you would tell your friend to choose and why.
- Explain which you would rather have—a flexible spending account or health savings account, and why.
- If you were an employer, would you offer both, or only one? Describe the benefits of your choice.
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