I’m currently evaluating new career opportunities and the lead company for my search provided three levels of coverage. Through Excellus BCBS. Husband (35m) and wife (31f) plus healthy 2yo son.
I
I would be on a family plan. I’m trying to rationalize and plan what’s the best idea here both from a care perspective and fiscal.
The options are
1/ High Deductible $0 month with $14k deductible and out of pocket max. Everything covered in full after deductible met. 2/ high deductible $200 month with 5k deductible and $13500 OOP max. Copays after deductible met. 3/ copay at 500/month with OOP max of $10000
Covering the deductible with cash is fortunately not a concern of mine. We’re in good financial situation. I have some meds that can be expensive but I can also travel to Canada with ease as my employer’s office who I’ll be at monthly is near the border to greatly reduce cost if needed on my meds.. assuming the border reopens.
1/ min spend is $0. max spend is $14000 2/ min spend is $5200. Max is $18000 3/ min spend is $12000. Max is $22000
There’s HSA options for 1 and 2 which represent about $2000 of money otherwise taxed. Plus minor employer contribution of $500.
This year I’ll likely do the copay model because only 4 months left in the year. I could also do the middle plan and use this year to dump $7200 into a HSA.
Next year tho… Because we can afford to pay any big bill that might come up early.. I’m thinking option 1 makes more sense. the max OOP and 100% coverage after is quite appealing. It would represent ~12.5k max if something comes up. Whereas the copay means min $12k spent and could spend up to 22k. In my head that means a more predictable expense.
I need to see more details on the plans… I’ve got a summary breakdown only.
Any compelling reasons to not go high deductible option 1 between the HSA and ability to cover expenses out of pocket without worry? Never dealt with it before.. always had copay plans. Would love some advice from experience.
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I’m currently evaluating new career opportunities and the lead company for my search provided three levels of coverage. Through Excellus BCBS. Husband (35m) and wife (31f) plus healthy 2yo son. I I would be on a family plan. I’m trying to rationalize and plan what’s the best idea here both from a care perspective and fiscal. The options are 1/ High Deductible $0 month with $14k deductible and out of pocket max. Everything covered in full after deductible met. 2/ high deductible $200 month with 5k deductible and $13500 OOP max. Copays after deductible met. 3/ copay at 500/month with OOP max of $10000 Covering the deductible with cash is fortunately not a concern of mine. We’re in good financial situation. I have some meds that can be expensive but I can also travel to Canada with ease as my employer’s office who I’ll be at monthly is near the border to greatly reduce cost if needed on my meds.. assuming the border reopens. 1/ min spend is $0. max spend is $14000 2/ min spend is $5200. Max is $18000 3/ min spend is $12000. Max is $22000 There’s HSA options for 1 and 2 which represent about $2000 of money otherwise taxed. Plus minor employer contribution of $500. This year I’ll likely do the copay model because only 4 months left in the year. I could also do the middle plan and use this year to dump $7200 into a HSA. Next year tho… Because we can afford to pay any big bill that might come up early.. I’m thinking option 1 makes more sense. the max OOP and 100% coverage after is quite appealing. It would represent ~12.5k max if something comes up. Whereas the copay means min $12k spent and could spend up to 22k. In my head that means a more predictable expense. I need to see more details on the plans… I’ve got a summary breakdown only. Any compelling reasons to not go high deductible option 1 between the HSA and ability to cover expenses out of pocket without worry? Never dealt with it before.. always had copay plans. Would love some advice from experience.
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