Do I benefit from negotiated rates when using an HSA eligible insurance policy?

Question

Assume that I buy an HSA eligible HDHP with a $2000 deductable. As I'm working towards that deductable, do I benefit from the discounted rates that my insurance company negotiates with the healthcare providers, or do I pay the full, non-discounted rates until I reach my deductable?

Answer 1

don't think that you are uninsured just because you have a high deductible and a Health Savings Account. When you go to the doctor, pharmacy, or the hospital, always present your insurance ID card. This will trigger a claim to your insurance company. In the case of the pharmacy, they will know the discounted rate for the Rx you are picking up. In the doctor's office, ask them to bill your insurance first, and you will pay them when you get your Explanation of Benefits (EOB) from the insurance company. If they don't want to wait, pay them at the time of service, and expect to get some sort of refund after you get your EOB.

This will keep more money in your HSA longer, and maybe you won't meet your deductible, but any money left in your account is growing tax-deferred and rolls over year after year. Savings eventually (at 65) become a tax-qualified retirement plan.

I have an HSA myself, and sell them every day. I am looking forward to keeping as much money in my account as possible.

Answer 2

You pay the contracted rates, in most cases. That's why you NEVER pay before your insurance is billed, aside from your copay. Your insurance tells the provider (in the form of an EOB) how much to bill you, the patient.

Answer 3

If you stay in the network, you get the discounts.

Answer 4

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