I started at a new employer in November, so I wasn’t anywhere near meeting my deductible for the whole year and my employer only gave me 5 months worth of the HRA funds. We’re about to restart the annual coverage in May and I’m trying to get a sense of how to get the best value for my insurance.
My employer offers Cigna Open Access Plus with an HRA plan. I’m currently on the low deductible plan for one person.
Coverage: Cost – $190 monthly
Phase 1: $3000 out of pocket (Employer gives $1750 upfront for HRA)
Phase 2: $1000 at 20/80
Phase 3: Plan pays 100% In Network
I feel like this type or insurance is good for people who A. Don’t use it a lot and can get by with just using the employer reimbursement $1750 or B. Who use enough to get to Phase 3.
I mainly use my insurance for behavioral health. I go to therapy once a week and see a psychiatrist every 3 months to keep up with my medication.
When processed through my insurance my therapy is $141 a session and my psychiatrist is around $200. I use amazon pharmacy currently for my medications, but will most likely switch to Cigna’s home delivery to save $$.
I’m thinking that it’s not such a bad deal if I use the insurance enough to get to Phase 3. Just taking my current therapy/psychiatrist as an example.
$141 x 26 sessions annually = $3,666 $200 x 4 = $800
Phase 1 would be completed just with therapy alone for the year. With my employers contribution of $1,750 my out of pocket expense for Phase 1 is $1,250. I get confused with the 20/80 for $1000. I’m wondering if that will make bills cheaper so it’s harder to get to Phase 3? Would my therapy be cheaper because Cigna is paying for 80%? This is not even considering any other medical bills I might have in the year. I do have some other things planned like getting an IUD taken out, which may be covered 100% already through wellness, but I’m unsure. I also haven’t considered any accidents, etc.
Should I just keep this path going and try my hardest to make it to Phase 3 so I can “get my money’s worth” or be more frugal, get a cheaper therapist, and try to stay within a budget so that I don’t spend as much?
submitted by /u/eels4peels
[link] [comments]I started at a new employer in November, so I wasn’t anywhere near meeting my deductible for the whole year and my employer only gave me 5 months worth of the HRA funds. We’re about to restart the annual coverage in May and I’m trying to get a sense of how to get the best value for my insurance. My employer offers Cigna Open Access Plus with an HRA plan. I’m currently on the low deductible plan for one person. Coverage: Cost – $190 monthly Phase 1: $3000 out of pocket (Employer gives $1750 upfront for HRA) Phase 2: $1000 at 20/80 Phase 3: Plan pays 100% In Network I feel like this type or insurance is good for people who A. Don’t use it a lot and can get by with just using the employer reimbursement $1750 or B. Who use enough to get to Phase 3. I mainly use my insurance for behavioral health. I go to therapy once a week and see a psychiatrist every 3 months to keep up with my medication. When processed through my insurance my therapy is $141 a session and my psychiatrist is around $200. I use amazon pharmacy currently for my medications, but will most likely switch to Cigna’s home delivery to save $$. I’m thinking that it’s not such a bad deal if I use the insurance enough to get to Phase 3. Just taking my current therapy/psychiatrist as an example. $141 x 26 sessions annually = $3,666 $200 x 4 = $800 Phase 1 would be completed just with therapy alone for the year. With my employers contribution of $1,750 my out of pocket expense for Phase 1 is $1,250. I get confused with the 20/80 for $1000. I’m wondering if that will make bills cheaper so it’s harder to get to Phase 3? Would my therapy be cheaper because Cigna is paying for 80%? This is not even considering any other medical bills I might have in the year. I do have some other things planned like getting an IUD taken out, which may be covered 100% already through wellness, but I’m unsure. I also haven’t considered any accidents, etc. Should I just keep this path going and try my hardest to make it to Phase 3 so I can “get my money’s worth” or be more frugal, get a cheaper therapist, and try to stay within a budget so that I don’t spend as much? submitted by /u/eels4peels [link] [comments]Read Morer/HealthInsurance