Deciding on COBRA insurance

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Hey all,

So, I’m in slight pickle. I’m leaving my current employer to work for a start-up. From what I understand, I’ll have the option to take on the full costs of my health insurance at my current employer, which sounds good to me as I’m pretty comfortable with my plan.

That said, however, I think I may end up overpaying, but I’m having a hard time evaluating how much I’d spend just by looking at deductibles, copays, out of pocket max, etc. (“Plan discount” is tripping me up and I can’t find a lot about it online).

So, I’m a young (<25) relatively healthy male. Annual salary ~75K with a good emergency fund and a small ($500) HSA fund.

I see one specialist quarterly and get bloods done quarterly. I have two prescriptions, but I use GoodRX for those.

My current plan would cost me (My monthly cost + my employers monthly cost + 2%) $605 with COBRA, and that results in a $1750 deductible and a $4400 out of pocket maximum. I also have a connected HSA, but I’m unsure how that would work after leaving my employer. I’m guessing I would just contribute out of pocket.

That said, my recommended plans through Florida Blue would be $450 a month with a $1500 deductible and $5500 out of pocket, or $580 a month with no deductible and a $2000 out of pocket.

My intuition tells me that the latter plan would be ideal, because my maximum spend in a year would be annual deductible + $2000, which would be less than my COBRA option, however, I’ve never hit my deductible or out of pocket max, and I’m afraid I’ll end up paying more for services.

Does anyone have advice on how to find the best plan for a male my age while maximizing value? I understand that since I’m young and low risk, it would behoove me to have a low deductible plan, but, I’m concerned that a low deductible plan will result in me paying more for my visits etc.

This is where the “Plan Discount” confuses me. In my current plan, without hitting my deductible, I pay a fraction of the billed cost of my specialist and bloods (like less than 10%), and I fear that’s where the quality of a new lower deductible plan would go down.

submitted by /u/hardhitter007
[link] [comments]
Hey all, So, I’m in slight pickle. I’m leaving my current employer to work for a start-up. From what I understand, I’ll have the option to take on the full costs of my health insurance at my current employer, which sounds good to me as I’m pretty comfortable with my plan. That said, however, I think I may end up overpaying, but I’m having a hard time evaluating how much I’d spend just by looking at deductibles, copays, out of pocket max, etc. (“Plan discount” is tripping me up and I can’t find a lot about it online). So, I’m a young (<25) relatively healthy male. Annual salary ~75K with a good emergency fund and a small ($500) HSA fund. I see one specialist quarterly and get bloods done quarterly. I have two prescriptions, but I use GoodRX for those. My current plan would cost me (My monthly cost + my employers monthly cost + 2%) $605 with COBRA, and that results in a $1750 deductible and a $4400 out of pocket maximum. I also have a connected HSA, but I’m unsure how that would work after leaving my employer. I’m guessing I would just contribute out of pocket. That said, my recommended plans through Florida Blue would be $450 a month with a $1500 deductible and $5500 out of pocket, or $580 a month with no deductible and a $2000 out of pocket. My intuition tells me that the latter plan would be ideal, because my maximum spend in a year would be annual deductible + $2000, which would be less than my COBRA option, however, I’ve never hit my deductible or out of pocket max, and I’m afraid I’ll end up paying more for services. Does anyone have advice on how to find the best plan for a male my age while maximizing value? I understand that since I’m young and low risk, it would behoove me to have a low deductible plan, but, I’m concerned that a low deductible plan will result in me paying more for my visits etc. This is where the “Plan Discount” confuses me. In my current plan, without hitting my deductible, I pay a fraction of the billed cost of my specialist and bloods (like less than 10%), and I fear that’s where the quality of a new lower deductible plan would go down.
submitted by /u/hardhitter007 [link] [comments]Read Morer/HealthInsurance

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