Hi,
I just got an email that it’s time for enrollment for health insurance again and my job’s plans have changed slightly. I was just wanting to see if my understanding of the two options is correct…
Plan A: PPO $3700 deductible, 100% coverage after deductible
Deductibles are $3700 single, $7400 family
Out of pocket: $7050 single, $14100 family
Plan B: PPO $2100 deductible, 70% coverage after deductible
Deductibles are $2100 single, $4200 family
Out of pocket: $7050 single, $14100 family
I typically do not have many expenses other than maybe some blood work. My wife has some expenses (therapy, prescriptions, doctor visits) and we now have a newborn son who will have office visits.
It seems to me that the $2100 deductible is the better option so long as we are not approaching the out-of-pocket limit (which I wouldn’t expect we will this year). For plan A, we would need to hit $7400 before we started having everything covered, while we could spend $4200 with plan B and then get 70% coverage. By the time we hit $7400 with plan A, we would be at $4200 + (3200 * 0.3) = $5160, correct? Am I missing something here? (I don’t expect any individual will hit the deductible for an individual, but if they did, it would be $3700 vs. $2580 for the same care costs for A vs. B, right?)
Both plans come with $3650 contribution to HSA by employer. Plan A premiums come out to about $30 more per month than Plan B premiums.
submitted by /u/acarter5251
[link] [comments]Hi, I just got an email that it’s time for enrollment for health insurance again and my job’s plans have changed slightly. I was just wanting to see if my understanding of the two options is correct… Plan A: PPO $3700 deductible, 100% coverage after deductible Deductibles are $3700 single, $7400 family Out of pocket: $7050 single, $14100 family Plan B: PPO $2100 deductible, 70% coverage after deductible Deductibles are $2100 single, $4200 family Out of pocket: $7050 single, $14100 family I typically do not have many expenses other than maybe some blood work. My wife has some expenses (therapy, prescriptions, doctor visits) and we now have a newborn son who will have office visits. It seems to me that the $2100 deductible is the better option so long as we are not approaching the out-of-pocket limit (which I wouldn’t expect we will this year). For plan A, we would need to hit $7400 before we started having everything covered, while we could spend $4200 with plan B and then get 70% coverage. By the time we hit $7400 with plan A, we would be at $4200 + (3200 * 0.3) = $5160, correct? Am I missing something here? (I don’t expect any individual will hit the deductible for an individual, but if they did, it would be $3700 vs. $2580 for the same care costs for A vs. B, right?) Both plans come with $3650 contribution to HSA by employer. Plan A premiums come out to about $30 more per month than Plan B premiums. submitted by /u/acarter5251 [link] [comments]Read Morer/HealthInsurance