Search found 17 matches

by raylet
Wed Nov 16, 2022 9:49 am
Forum: Personal Finance (Not Investing)
Topic: HDHP v/s PPO for 2023 and expecting child next year
Replies: 14
Views: 1112

Re: HDHP v/s PPO for 2023 and expecting child next year

Hi, I'm in open enrollment and wanted to get some advice on HDHP v/s PPO plan for 2023. We're expecting a baby in June next year and were contemplating which plan should we go with: HDHP w/ HSA (This plan has family specific deductible and OOPM) Family Deductible: $3500 Family OOPM: $6000 Employer HSA contribution: $1000 Total Premium: $4788 (half year with spouse + half year with family) PPO (This plan has member specific deductible and OOPM) Member deductible: $500 Family Deductible: $1000 OOPM: $3000 (member), $6000 (family) Total Premium: $6884 (half year with spouse + half year with family) Based on my calculations HDHP comes out ahead around $3k if we meet OOPM($6000) next year. Any suggestions on what would be the right approach her...
by raylet
Wed Nov 16, 2022 9:25 am
Forum: Personal Finance (Not Investing)
Topic: HDHP v/s PPO for 2023 and expecting child next year
Replies: 14
Views: 1112

Re: HDHP v/s PPO for 2023 and expecting child next year

Hi, I'm in open enrollment and wanted to get some advice on HDHP v/s PPO plan for 2023. We're expecting a baby in June next year and were contemplating which plan should we go with: HDHP w/ HSA (This plan has family specific deductible and OOPM) Family Deductible: $3500 Family OOPM: $6000 Employer HSA contribution: $1000 Total Premium: $4788 (half year with spouse + half year with family) PPO (This plan has member specific deductible and OOPM) Member deductible: $500 Family Deductible: $1000 OOPM: $3000 (member), $6000 (family) Total Premium: $6884 (half year with spouse + half year with family) Based on my calculations HDHP comes out ahead around $3k if we meet OOPM($6000) next year. Any suggestions on what would be the right approach her...
by raylet
Wed Nov 16, 2022 7:15 am
Forum: Personal Finance (Not Investing)
Topic: HDHP v/s PPO for 2023 and expecting child next year
Replies: 14
Views: 1112

Re: HDHP v/s PPO for 2023 and expecting child next year

AnEngineer wrote: Wed Nov 16, 2022 7:00 am 1) what surprise are you worried about? You know the worst case and there HDHP is better.
2) trad plan is in network only but HDHP has out of network coverage? That's a big difference in favor of the HDHP in my book.

1. Bills that will be coming in up until the deductible is met and beyond that till OOPM is met. With PPO, it's quite straightforward with either no charge for tests or minimum co-payments.
2. We already have the hospital and OB-GYN that my wife goes to that are in-network. That's not a concern, and even with HDHP, going out of network is very costly
by raylet
Tue Nov 15, 2022 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP v/s PPO for 2023 and expecting child next year
Replies: 14
Views: 1112

Re: HDHP v/s PPO for 2023 and expecting child next year

Do both plans cover maternity care at 100%? I have had a HDHP that did; we only paid the family deductible. Everything after was covered at 100%. I have had a traditional PPO which did not. After the deductible, we paid 10-20% coinsurance, causing us to hit the individual OOPM. Comparing these two births, the HDHP was cheaper and simpler. I only received bills early on in the pregnancy when we were under the deductible. For the PPO, I was paying many $50-100 bills up to the OOPM. Tracking for everything under this particular PPO got tiresome. Yes, both the plans cover 100% prenatal care. The HDHP has 20% coinsurance for postnatal and PPO has 10% coinsurance. Also, the PPO plan is in-network only, and we have established a in-network hospit...
by raylet
Tue Nov 15, 2022 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP v/s PPO for 2023 and expecting child next year
Replies: 14
Views: 1112

HDHP v/s PPO for 2023 and expecting child next year

Hi, I'm in open enrollment and wanted to get some advice on HDHP v/s PPO plan for 2023. We're expecting a baby in June next year and were contemplating which plan should we go with: HDHP w/ HSA (This plan has family specific deductible and OOPM) Family Deductible: $3500 Family OOPM: $6000 Employer HSA contribution: $1000 Total Premium: $4788 (half year with spouse + half year with family) PPO (This plan has member specific deductible and OOPM) Member deductible: $500 Family Deductible: $1000 OOPM: $3000 (member), $6000 (family) Total Premium: $6884 (half year with spouse + half year with family) Based on my calculations HDHP comes out ahead around $3k if we meet OOPM($6000) next year. Any suggestions on what would be the right approach here...
by raylet
Wed Aug 19, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

Is there any issue if there is a delay in funding of refi mentioned on the Closing disclosure? My loan was supposed to disburse this Monday, but looks like there is a delay in funding the loan.
by raylet
Wed Aug 05, 2020 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

I just received closing disclosure from lenderfi, looks like my outstanding balance increased by 2k. Looks like they rolled the closing cost (prepaid interest + 3 month property tax which is about 2k) into the loan amount, and I will be getting $150 from them on closing. Is there a benefit of paying this cost out of pocket or adding to principle should be fine? Question related to this: I also received the Closing disclosure document to be signed by my wife. I'm just curious if anyone else got this. I'm the only one who applied for the refinance, so a bit confused as to why both of us need to sign on the closing disclosure. Depending on the state, spousal consent is required even if only one spouse is on the mortgage and even if only one s...
by raylet
Wed Aug 05, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

raylet wrote: Wed Aug 05, 2020 2:02 pm I just received closing disclosure from lenderfi, looks like my outstanding balance increased by 2k. Looks like they rolled the closing cost (prepaid interest + 3 month property tax which is about 2k) into the loan amount, and I will be getting $150 from them on closing. Is there a benefit of paying this cost out of pocket or adding to principle should be fine?
Question related to this: I also received the Closing disclosure document to be signed by my wife. I'm just curious if anyone else got this. I'm the only one who applied for the refinance, so a bit confused as to why both of us need to sign on the closing disclosure.
by raylet
Wed Aug 05, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

I just received closing disclosure from lenderfi, looks like my outstanding balance increased by 2k. Looks like they rolled the closing cost (prepaid interest + 3 month property tax which is about 2k) into the loan amount, and I will be getting $150 from them on closing. Is there a benefit of paying this cost out of pocket or adding to principle should be fine? Paying out of pocket = less principal = smaller monthly payment. While this is true, an extra $2k is likely not going to have a huge impact on the monthly payment. I think you said your rate was 2.75%, so financing $2k at that rate runs about $55/year, roughly $4.60 a month. In my last refinance, I was fine rolling a small balance into the loan to avoid having to come up with a few ...
by raylet
Wed Aug 05, 2020 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

I just received closing disclosure from lenderfi, looks like my outstanding balance increased by 2k. Looks like they rolled the closing cost (prepaid interest + 3 month property tax which is about 2k) into the loan amount, and I will be getting $150 from them on closing. Is there a benefit of paying this cost out of pocket or adding to principle should be fine?
by raylet
Fri Jul 24, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

Maybe I'm missing something but the LenderFi guaranteed no cost refi program doesn't sound like that good of a deal to me. First, they're basically offering to do for free what they would otherwise do for free if you refid with them. Second, the "no cost" option does not cover state transfer taxes which can be substantial (for me they are about $1,400 with my mortgage size in VA). Finally, for someone like me with a large mortgage slight movements in the mortgage market have large swings on the lender credit. In fact, when I was shopping the loan officer called me one day with an offer of $1,800 in closing costs (including transfer taxes), the next morning it was $700 closing costs and in the afternoon it was $0 closing costs all...
by raylet
Tue Jul 21, 2020 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

jerseysure wrote: Tue Jul 21, 2020 12:49 pm I am scheduled to close on Saturday 7/25. That's 19 days from my application on 7/6.
Woow! that is fast. I'm yet to get a rate lock confirmation, applied for rate lock last Friday. Do you guys know how long it takes to get a rate lock confirmation? Locked in 2.625 for 20 Y, no closing costs, no points.
by raylet
Mon Jul 20, 2020 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1277256

Re: Refinance Mega Thread

EDIT: Where in the LenderFi paperwork is the 6 month clawback noted? I can't find it. They guy said no refinances for six months while I was on the phone with him but I can't see anything in writing. It was in the initial set of disclosures. Intent to Retain Mortgage No Sales Clause (180 days) I/We are aware that by signing this form, I/We are acknowledging that we have been completely forthright and upfront regarding my/our current intentions. I/We are acknowledging by signing this form that we have no intent to sell and/or refinance our property within the next 6 months (180 days). I/We fully understand that any false or misleading statements on my/our parts could be construed as misrepresentation of my/our true intent and could therefor...
by raylet
Sun Jul 19, 2020 8:35 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

My initial disclosure loan estimate said that they will transfer the service of loan. Is their a possibility that it can change on the final closing date? Also, this is my first refi, do you think I should go with a larger bank with better servicing capability. I would just not want to deal with this constant stress of whether the payment was received or not, escrow were paid correctly or not. I would like things to be on auto-pilot just like my current mortgage payment. Reading through earlier posts it sounds like LenderFi may have worked out their servicing kinks recently as they have a servicing website now which people have indicated they have been able to set up automatic payments through. Thanks, sounds like that was the only issue w...
by raylet
Sun Jul 19, 2020 8:17 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

My initial disclosure loan estimate said that they will transfer the service of loan. Is their a possibility that it can change on the final closing date? Also, this is my first refi, do you think I should go with a larger bank with better servicing capability. I would just not want to deal with this constant stress of whether the payment was received or not, escrow were paid correctly or not. I would like things to be on auto-pilot just like my current mortgage payment. Reading through earlier posts it sounds like LenderFi may have worked out their servicing kinks recently as they have a servicing website now which people have indicated they have been able to set up automatic payments through. Thanks, sounds like that was the only issue w...
by raylet
Sun Jul 19, 2020 6:10 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

My initial disclosure loan estimate said that they will transfer the service of loan. Is their a possibility that it can change on the final closing date? Also, this is my first refi, do you think I should go with a larger bank with better servicing capability. I would just not want to deal with this constant stress of whether the payment was received or not, escrow were paid correctly or not. I would like things to be on auto-pilot just like my current mortgage payment.
by raylet
Sat Jul 18, 2020 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 215626

Re: My LenderFi refinance is going well

I’ve just started a refi with them, are there any concerns on servicing side? I know they are good at closing within 30 days so not worried about the part.