It's health care open enrollment time at Michael's Big Corporate Job, and they have ditched all of their no-deductible plans in favor of weird deductible/health savings plan/consumer driven hybrid nonsense. I've been reading the material for over an hour and I still don't know how much it's likely to cost us to insure Michael and the kids for 2008.
Hold me.
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5 comments:
{{{{Ruth}}}
Figuring out insurance is the pits. Can you get insurance through your job?
Here, more hugs {{{{{Ruth}}}}. And, join me in a mimosa! :-)
Ann
I can insure Michael and the kids through work, but it would cost us a small fortune. I think we're going to bite the bullet with the new hybrid plans his employer is offering. Thanks for the hugs and the booze!
Hey, Roo,
You will need to sharpen your spreadsheet. Collect data on how much you are paying currently for out of pocket predictable 2008 health expenses, like the family's office visit and ER(this one was predictable for me for a number of child years; perhaps for you, too?) copays x # vists, Rxs x #filled, lab tests & xrays, and vision exams & glasses currently covered under your plan. Add to this your monthly premium contribution x 12 months.
Next, look at how copays would be different under the new plan(s) you are considering, and add to that your new plan's premium contribution x 12 months, and any deductibles the new plan might carry before you can get the benefit paid.
It gets more complicated if you also need to know the true total cost of the Rx and office visits, etc, to figure the difference in benefit paid, but the rough cut may wor. Iyou don't have those true costs as printouts on your Rx stubs and Statements of Benefits from your current provider, you'll need to call the pharmacy, doctors, etc. to find out the true cost. My guess is if you are counting on an ER visit or two for a kid, that cost is easily $15-$1700 per visit in your area, but your current insurer's member line may be a resource for that kind of info.
If it's any comfort to you, Dave says that people he works with now are complaining as well. Can you call all this a hug?? If not, I'll hug you for real in a couple of weeks.
Love,
Deanie
Sure, Beans, that counts as a hug! (You do remember that I'm a finance professional, right? ; ) Unfortunately, I would need both retail pricing and the plan's negotiated discounts to get any kind of real handle on costs, so it's very unwieldy. We're just going to close our eyes and jump, for now. Hope the parachute opens.
Big. Hug.
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