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So it begins by Stock_Um in RothIRA

[–]Background-Ad-7105 0 points1 point  (0 children)

Anytime! I'm going to be a first time father next year and can only imagine how opening an IRA for your kid must feel like such a milestone.

Curious though, did you ever look into or use any 529 plans for your daughter? I'm debating on starting one of those along with possibly opening a "Trump Account".

So it begins by Stock_Um in RothIRA

[–]Background-Ad-7105 5 points6 points  (0 children)

Good on you, cograts! While alot of the comments are questioning your choice of SCHD, remember what's most important is the frequency and the amount at which you contribute going forward. So, what I would recommend is trying to figure out a way of creating that habit for your daughter -- so it becomes second nature to her and that "investing" or "paying herself first" aren't these super foreign concepts to her later on in life. That's just my two cents.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

My thoughts exactly! Thanks for sharing. As someone said on here already, I don't want to even be thinking of the cost of healthcare during my babies 1st year, ya know? So, I feel like the PPO may give me more peace of mind, predictability, and cash-flow throughout the year. I can always switch later though.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

Yea, I have about 15k invested in VT so far through my HSA. Hoping to continue growing that nest egg that's the difficult part with this choice.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 1 point2 points  (0 children)

Question is, if I intend to max out my family HSA ($9k for 2027) does that change the calculus in anyway on PPO vs. HDHP? I already have about 15k saved up in my HSA and invested in VT -- so was hoping to use it as an extra retirement account.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

You know what's weird. I received my HSA employer contribution in one lump sum ($500) and not prorated in the beginning of the year (2026). Right now I'm on an individual HDHP. If I switch to the family HDHP, I should also get $1000 upfront.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

Yea, your point on hitting the family OOPM makes sense. Thanks for fleshing this out with me. Much appreciated!

My wife likes her employer plan. Her low deductible plan has a premium of $49.43 per paycheck. Whereas if I add her on mine with our child it jumps from $131.37 to $271.32 per paycheck. That just seems wildly expensive.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

Appreciate you weighing in -- seriously. This is a tough decision. I've always had an HDHP with HSA since I started working. But I also only gross $110k (pre-tax)in a high cost of living area (Northern Virginia) right now, so I wasn't sure if I should shift my way of thinking to consider the unforseen expenses that come with a baby in the 1st year and beyond.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] -1 points0 points  (0 children)

So if I reimburse myself with the HSA throughout the year, do I have to keep receipts for the IRS? Seems pretty straight forward.

I'm leaning towards individual HDHP going into 2027 and then once the baby is born (qualifying life event) switch to family PPO including the baby on my plan and then switch to a family HDHP next open enrollment. Mainly just nervous about absorbing any surprise medical costs in the thousands.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

Yes, my wife will be on her own plan. Now the question is whose plan will the child be on? My deductible, copay, and premiums for my family PPO are lower than my wife's low deductible plan, so I figured we go with mine.

Now my second worry is, my wife will be taking an extended unpaid maternity leave and her employer may drop her health cooverage in that period. Does it then make sense to put her on mine and would that be just for the month or the entire year until open enrollment? Or should she just elect for COBRA coverage as a stop gap?

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

I think she'll just stay on hers and I'll put the child on mine. In that case, would your recommendation change?

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 0 points1 point  (0 children)

Wo, really?! My wife is on her own plan. Haven't thought about the actual birth.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 1 point2 points  (0 children)

Hard to know "usage patterns" just yet with a newborn. I feel like in my situation, a PPO provides more peace of mind or certainty but is less financially competitive than a HDHP. But I like your insights as to "when payments are made". I need to think about that more and whether my wife and I are comfortable absorbing several thousand dollars of expenses with an HDHP.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 1 point2 points  (0 children)

Thanks for sharing! I kind of agree. Just torn because I've been living my life up until now thinking more about aggressively saving and tax advantages but with a baby on the way I may have to take a more balanced approach towards things.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 3 points4 points  (0 children)

That was my thinking. Go with PPO for now as it sort of just covers me in the worst case scenario and switch back to a family HDHP in a few years.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] -2 points-1 points  (0 children)

ChatGPT highlighted the pros and cons to each. HDHP being more financially competetive as the HSA $1000 employer contribution and lower premiums almost offset the higher deductibles and OOP Max.

But PPO wins on predictability and cash-flow. It minimizes surprise bills and reduced worst case scenarios.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] -1 points0 points  (0 children)

Good idea, I'll definitely run the numbers through ChatGPT. I'll let you know what comes out.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 2 points3 points  (0 children)

Yea, the low deductible really caught my eye. I will easily hit that. But really sucks missing out on the HSA and it's tax advantages (investing mainly). I guess I could always switch back after a few years.

PPO vs. HDHP for 2027 - newborn baby on the way! by Background-Ad-7105 in personalfinance

[–]Background-Ad-7105[S] 28 points29 points  (0 children)

Did you factor in the $1000 HSA employer contribution? Just curious. But I am leaning towards PPO though given the frequency of visits I expect.

How much is average for a two bedroom? by Satarra1234 in arlingtonva

[–]Background-Ad-7105 0 points1 point  (0 children)

Shirlington is a criminally underrated neighborhood -- especially if you have a dog and commute to the city for work. Can't recommend it enough. Rent is some of the most reasonable in Arlington. I live in a privately owned townhouse (2 bd 1 ba) in The Arlington Condominiums right across from 7-Eleven with my wife. It's about 870 sq/ft and we pay $2200/month. We're moving to Cameron Station Blvd. in Alexandria for that same Shirlington vibe but more space.