I hate to admit it, but I didnt know shit about how health insurance worked. I used to think all i had to do is pay my monthly bill then they take care of the rest…if only it was that easy right? When i started my current job last year and got health insurance for the first time, was when I learned that i have to pay my deductible before the insurance kicks in. But little did I know until literally just a few days ago that the deductibles reset at the beginning of every year. Here i was, thinking i was close to reaching my maximum out of pocket costs so the insurance company covers 100% of the bill only to find out im basically back at square one now.
Well, that started to put things in perspective for me…at the end of the day its still a business and they’re not here to help me, they’re goal is to make profits. Just like car insurance, u can pay 5 or 10 years straight but the moment u make a claim they’re gonna raise your rates. And if they pay out more money than they got from u, they will drop u in a heartbeat.
Anyway, i honestly didn’t know what i was doing when i signed up for health insurance through my employer last year and didn’t really know what plan to pick. So im not sure if i picked a plan that makes the most sense for me financially in the long run. Maybe someone can give me a second opinion based on theirs and other’s experiences if this is a decent plan.
I only make $15/hr so roughly 29k/yr pre tax. They take $100 out of every paycheck so $200 a month. My deductible is $1,300 and when that is met, insurance kicks in and pays 80%. My out of pocket max is $3,100 and if that is met, they pay 100% for the rest of the year. Health wise, I have a thyroid condition so i have to see an endocrinologist about every 3 months for check ups and have to take medication daily to keep my thyroid functioning normally. Other than that, I see a therapist twice a week for my mental health and see a psychiatrist every 3 months or so just to see how I’m doing on the medication I’m taking for depression.
One of the things I was blessed with is, that I have medicaid as a secondary insurance which is completely free. When the pandemic started, they declared a national emergency and said everyone who was receiving medicaid before the pandemic, would continue to be eligible, and no one can be taken off until the national emergency is declared over even if they become ineligible due to being over the income limit. So i am technically over the income limit but have had medicaid since 2020 so i haven’t had to pay any deductible or co pay bc medicaid pays whatever portion my primary doesn’t.
But this wont last forever, it could be this year, it could be next year or 10 years from now who knows…but when the pandemic is “over” and i get kicked off medicaid, does the plan i currently have through my employer seem reasonable?
submitted by /u/new_account54321
[link] [comments]I hate to admit it, but I didnt know shit about how health insurance worked. I used to think all i had to do is pay my monthly bill then they take care of the rest…if only it was that easy right? When i started my current job last year and got health insurance for the first time, was when I learned that i have to pay my deductible before the insurance kicks in. But little did I know until literally just a few days ago that the deductibles reset at the beginning of every year. Here i was, thinking i was close to reaching my maximum out of pocket costs so the insurance company covers 100% of the bill only to find out im basically back at square one now. Well, that started to put things in perspective for me…at the end of the day its still a business and they’re not here to help me, they’re goal is to make profits. Just like car insurance, u can pay 5 or 10 years straight but the moment u make a claim they’re gonna raise your rates. And if they pay out more money than they got from u, they will drop u in a heartbeat. Anyway, i honestly didn’t know what i was doing when i signed up for health insurance through my employer last year and didn’t really know what plan to pick. So im not sure if i picked a plan that makes the most sense for me financially in the long run. Maybe someone can give me a second opinion based on theirs and other’s experiences if this is a decent plan. I only make $15/hr so roughly 29k/yr pre tax. They take $100 out of every paycheck so $200 a month. My deductible is $1,300 and when that is met, insurance kicks in and pays 80%. My out of pocket max is $3,100 and if that is met, they pay 100% for the rest of the year. Health wise, I have a thyroid condition so i have to see an endocrinologist about every 3 months for check ups and have to take medication daily to keep my thyroid functioning normally. Other than that, I see a therapist twice a week for my mental health and see a psychiatrist every 3 months or so just to see how I’m doing on the medication I’m taking for depression. One of the things I was blessed with is, that I have medicaid as a secondary insurance which is completely free. When the pandemic started, they declared a national emergency and said everyone who was receiving medicaid before the pandemic, would continue to be eligible, and no one can be taken off until the national emergency is declared over even if they become ineligible due to being over the income limit. So i am technically over the income limit but have had medicaid since 2020 so i haven’t had to pay any deductible or co pay bc medicaid pays whatever portion my primary doesn’t. But this wont last forever, it could be this year, it could be next year or 10 years from now who knows…but when the pandemic is “over” and i get kicked off medicaid, does the plan i currently have through my employer seem reasonable? submitted by /u/new_account54321 [link] [comments]Read Morer/HealthInsurance