Please help deciding between these two employer options

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New job starts Monday and I have to make my decisions that morning. It will be me, my spouse, and our child (age 3) on the plan, so the amount I’m listing is for the “emp+family” option. Prescriptions are same for both. “Preventative visits” are “free” on both. Coinsurance on both pays 80% after deductible. If we sign up Monday, it will start April 1.

Plan 1: $97 per paycheck / individual deductible $3000, family deductible $6000 / out of pocket max $5000 ind $10,000 fam.

Plan 2: $167 per paycheck / individual deductible doesn’t exist, family deductible is $3000 / out of pocket max $3500 ind $7,000 fam.

The whole thing with the deductible is always explained that they won’t pay anything until we hit the deductible but my experience with employer health care is that they do negotiate a much lower rate for all visits so there is some benefit right out the gate.

Relevant info I can think of: we haven’t had insurance for nearly 2 years and are relatively healthy. My wife has some expensive prescriptions but good Rx has made them reasonable. We are both in our mid to late 30s. She might be using the insurance for therapy visits that we’ve been unable to afford, so there might be some expenses. We can put money into an HSA and the employer makes some contributions into it as well ($400 a year they put in, we can contribute up to $6000 a year). We will be signing up for vision/dental but that’s all one price choice so no worry there.

I guess the question is if the extra $70 a month (x 26 pay periods is $1820 a year) worth the lower deductible and lower max out of pocket. Would I be better choosing the lower price plan and contributing the difference into the HSA or paying down some CCs?

submitted by /u/Signiference
[link] [comments]
New job starts Monday and I have to make my decisions that morning. It will be me, my spouse, and our child (age 3) on the plan, so the amount I’m listing is for the “emp+family” option. Prescriptions are same for both. “Preventative visits” are “free” on both. Coinsurance on both pays 80% after deductible. If we sign up Monday, it will start April 1. Plan 1: $97 per paycheck / individual deductible $3000, family deductible $6000 / out of pocket max $5000 ind $10,000 fam. Plan 2: $167 per paycheck / individual deductible doesn’t exist, family deductible is $3000 / out of pocket max $3500 ind $7,000 fam. The whole thing with the deductible is always explained that they won’t pay anything until we hit the deductible but my experience with employer health care is that they do negotiate a much lower rate for all visits so there is some benefit right out the gate. Relevant info I can think of: we haven’t had insurance for nearly 2 years and are relatively healthy. My wife has some expensive prescriptions but good Rx has made them reasonable. We are both in our mid to late 30s. She might be using the insurance for therapy visits that we’ve been unable to afford, so there might be some expenses. We can put money into an HSA and the employer makes some contributions into it as well ($400 a year they put in, we can contribute up to $6000 a year). We will be signing up for vision/dental but that’s all one price choice so no worry there. I guess the question is if the extra $70 a month (x 26 pay periods is $1820 a year) worth the lower deductible and lower max out of pocket. Would I be better choosing the lower price plan and contributing the difference into the HSA or paying down some CCs?
submitted by /u/Signiference [link] [comments]Read Morer/HealthInsurance

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