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Dumping Debt Fridays | Financial Q&As | Which is better PPO or HSA?

1,028 views · Published 21 October 2016 · 10:36 · Indexed 23 September 2026

Channel: Kelly Anne Smith · 2016 · People & Blogs

Please ask your financial questions in the comments below!

Welcome to Dumping Debt Fridays! This is a video on that I do where I answer YOUR financial questions. I follow Dave Ramsey’s Baby Steps to get out of Debt. I am not a financial adviser so all answers are to the best of my ability. If I do not know an answer I will do some research or even call the Dave Ramsey Show to see what he himself would say!

Questions asked:
Melodie S:
With my job I have the choice of a PPO or HDHP/HSA plan. I have heard Dave say many times to get the HSA plan because it is a lower premium. With my employer I can get either for $0. The company will put $500 into your HSA initially and they will match $50 per pay period towards an HSA, which would come to a total of $2400 with me contributing $50 and them matching. In this scenario I would contribute $1200 to the HSA plan yearly. If I should meet the deductible of $3350 then after that the HDHP doesn't pay 100%. The prices I would pay for services is similar to the PPO plan. I do not go to the doctor much; therefore my out of pocket costs for copays are $100 or so and my prescription costs are $300 a year. If I get the HDHP plan then I will pay the full negotiated price for these items, which I hope wouldn't exceed $2400. In my mind I am thinking that paying $400 a year for my medical costs is better than paying $1200 for HSA. I am worried I am missing something. What do you think?
Jessy
- We have credit cards and pay them off in full every month. The key is to operate with a budget. Just consider them as debit cards. Having credit score makes life easy. We got our house at low rate of interest with 25% down payment . I would say wait till you accumulate 20% down payment only then buy a house. You would not have mortgage insurance then. Also have one or 2 credit cards if you can't manage many, use them Just for gas or groceries and pay them off in full. You can buy a house with underwriting but I heard the process can be tough.
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Lori McEntire:
I always hear about Dave Ramsey and the baby steps being about managing your money according to principles in the Bible. Do you feel that a person needs to be religious to follow the steps and make the process work for them?

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Dumping Debt Fridays | Financial Q&As | Which is better PPO or HSA?

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