HSA vs HRA for family with two young kids
I feel like this has been discussed a million times but I only see it in relation to singles or couples with no kids. We have two kids under the age of 4 so life is pretty unpredictable with them. We are a relatively healthy family, typical kids being sick and my husband and I needing to go to the doctor here and there. Just started a new job with only an HRA plan and HDHP HSA plan. I’ll put the breakdowns below but any advice on which would be better would be helpful!
My thought process is to go with the HSA and contribute the difference in premiums to the account each pay period in order to start building the account that way. But I don’t know a whole lot about HRA’s.
Hsa deductible: $10,000 HRA deductible: $6,000
Employer contributes $2,000 to HRA and nothing to HSA.
Premium cost per biweekly paycheck- HSA- $214 HRA- $400
HSA coverage is 0% coinsurance after deductible is met (for most everything). HRA coverage is 20% coinsurance after deductible is met (also for most everything).
Both have the same tiered prescription drug coverage that is very reasonable.
submitted by /u/ZookeepergameRude417
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