Insurance Change over
Hello yall, so I have recently changed jobs. Giving me a 30 day gap in coverage and I elected to take a marketplace plan. I make to much money a year so I am not getting tax incentives aside from the time my job is not providing coverage being tax deductible.
The market place plan is an HMO with $0 Deductible. and it is affordable compared to healthcare costs.
The new job insurance starts at the end of october, with that I would like to Elect their High Deductible HSA elligable plan. The Deductible is $1500 and they offer an HSA with a $1200 funding making my deductible more like $300. Is it possible to take advantage of this HSA plan and also use my marketplace plan?
I understand I cannot deduct the premiums from my taxes, and will not be able to get any APTC. I believe that from reading https://www.healthcare.gov/have-job-based-coverage/options/ section on “Canceling a Marketplace plan when you get a job-based insurance offer” it states “You may want to cancel your Marketplace plan for yourself and anyone else in your household eligible for the new job-based coverage.” leading me to believe that I don’t have to give up the really good insurance. But where my question comes to is the HSA side of things.
Can I have an HSA because of that High Deductible Plan or would having an non-hsa plan entirely void any approval? If so I probably will be just having the Marketplace plan.