I am a 29 year old male, healthy, with the exception of 1-2 ear infections per year (was more before I had a tonsillectomy). I’ll admit I feel so stupid for not understanding health insurance, but I need help understanding HSA versus a traditional, especially because colleagues keep telling me an HSA is just moving money from my paycheck into my HSA until I hit my deductible.

First, I have no idea what my premiums are. I have requested it from HR because I can’t find any documents to it. When our old insurance dropped us, I know premiums increased significantly. I currently have the traditional.

Traditional Option

deductible: 2,000 (one person), 4,000 (two)

out of pocket max 8,150/16,3000

$20 copay

preventative care covered at 100%

HSA

deductible: 2,000 (one person), 4,000 (two)

out of pocket max 4,000/8,000

$20 copay (PCP covered 100% after deductible)

preventative care covered at 100%

My main concern is that I get labs done four times a year to be on preventative medication (PrEP), which before insurance could cost $6,000 and $32,000 respectively.

My old insurance I had to pay 80 a month for the RX, and now I pay nothing. However, I used to never pay for my labs, and now I’m paying for anywhere between 200 and 350 per lab. When I contacted my insurance they said I need to contact the hospital I got my labs at about how much they charge.

Under the current charges, I won’t hit my deductible for my traditional coverage at all. With how expensive my labs and medications are, won’t this require more money up front from me? What is it that I’m not understanding?

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Edit: I was told earlier that my labs, although for preventative measure, doesn’t qualify for it being paid because it’s only for one lab a year.