Hi all, I have never had to choose my own insurance plan before in my adult life and so have no idea what I am doing, and some advice is really welcome. Background: 28 in Texas, only options are HMO’s from Blue Cross Blue Shield of Texas. I use my insurance a lot, I am on expensive prescriptions, had a surgery last year, see specialists semi regularly etc. I have narrowed it down to two options:
Option One is 340$ a month and has a high deductible at $6900. The out of pocket maximum is also $6900. Once the deductible is met, the coinsurance is 0%.
Option 2 is 420$ a month, and the deducible is quite a bit lower at $750. The Out of pocket maximum is higher, at 8550, and the coinsurance is higher also, at 40%.
I am leaning towards option one. I think overall, I will pay less (6900 vs 8550) and a lower monthly premium, I will just pay it upfront. Is that true? In my limited understanding, once I reach my deductible (which would also count for my out of pocket max in this case) I am done paying on this plan. So after a few blood works/doctors visits I would be paying nothing. Are there downsides to this? Do insurance companies approve things less if they know you have met your deductible and are basically paying $0 now? Thank you all!!!
submitted by /u/pineapple_princesses
[link] [comments]
Hi all, I have never had to choose my own insurance plan before in my adult life and so have no idea what I am doing, and some advice is really welcome. Background: 28 in Texas, only options are HMO’s from Blue Cross Blue Shield of Texas. I use my insurance a lot, I am on expensive prescriptions, had a surgery last year, see specialists semi regularly etc. I have narrowed it down to two options: Option One is 340$ a month and has a high deductible at $6900. The out of pocket maximum is also $6900. Once the deductible is met, the coinsurance is 0%. Option 2 is 420$ a month, and the deducible is quite a bit lower at $750. The Out of pocket maximum is higher, at 8550, and the coinsurance is higher also, at 40%. I am leaning towards option one. I think overall, I will pay less (6900 vs 8550) and a lower monthly premium, I will just pay it upfront. Is that true? In my limited understanding, once I reach my deductible (which would also count for my out of pocket max in this case) I am done paying on this plan. So after a few blood works/doctors visits I would be paying nothing. Are there downsides to this? Do insurance companies approve things less if they know you have met your deductible and are basically paying $0 now? Thank you all!!!
submitted by /u/pineapple_princesses [link] [comments]Read Morer/HealthInsurance