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Originally Posted by firstdown
Not sure if they have changed but 5 years ago when we first looked at a the Heath Savings Plan they did not cover prehnancies and that why we went with an HMO type policy. Now that we have had a child and our current premium has jumped we are now looking at one of those ploicies.
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I haven't had any children, but recently a couple guys I work with have. They have said they only had to cover their deductible.
You bring up a good point though, which is to be sure the policy will cover what you need. However, if it doesn't, with an HSA you (should) always have money in savings to pay for medical services regardless.
I work with a progressive guy, who doesn't care much for modern medicine. He goes the holistic route, and has money in savings to cover those services -- ones not covered by most insurance. Here is gets kinda tricky though, because while his payments for holistic services won't be taxed (since it's a medical expense), I'm not sure if the policy will allow him to use those expenses towards his deductible (so that when he exceeds it, the insurance will kick in). I guess the bottom line is to be thorough and check out everything.
The best thing about HSAs is that you're saving your money pre-tax, and if you never make a claim, the money is yours to spend however you want (with a big tax hit for non-medical). In the case of traditional insurance, if you never make a claim, all the premiums you've paid have essentially been money lost.