When I read this post (I Heart My High Deductible Health Plan) forever ago, I thought it was crazy. I thought it was so crazy I remembered it months later! How could anyone *heart* their high-deductible plan? It's 5K before anything kicks in!!!
That was before I did the math. When I was working, we were paying $650/month to cover the two of us. I didn't even notice because it silently disappeared like my taxes. When I got laid off, COBRA bumped that to $1300/month, and then I noticed! I bet most people don't even know what they're paying every month. I didn't.
My birth control was $80/3 months on the expensive insurance. I thought I was covered and that was good. Now, on the new plan, I'll pay $60/month or $180/3 months. Big deal, I could buy a whole lot of birth control and still come out way, way ahead.
And then there's the negotiated rates. My insurance company paid my doctor $60 when I had a cold. It paid my gyno $125 (though that's covered by the new plan). I had no idea. My vet costs more than $60!
We could go to the doctor a whole lot and still come out ahead. You just have them bill your insurance and then they bill YOU with that cheaper rate. DUH! It's so obvious. I can't believe I didn't see how brilliant that was when I read that article forever ago. I guess I wasn't ready for its brilliant truth.
The critical paradigm shift is not cringing at the point of sale. That is, I shouldn't expect to walk out of the ER without a bill. It's not like I didn't pay the stupid bill last time, I just never saw it because it sneaked out of my paycheck (and my employer) silently. I paid it, twice over.
So, walking out of the ER with a $200 bill is NOT GOOD. Instead, I should focus on the money we save with this plan, and we can easily shoulder small expenses, even our 10K deductible, if something happens. It's a whole new way of looking at healthcare...
Sunday, July 26, 2009
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3 comments:
I live in Hawaii where employers are required to offer health insurance to any employee who works over 20 hrs a week. My son was told that if he needed insurance that his hours would be cut to below 20. However, the state was "kind" enough to include an option on the required health form that states the employee refuses health coverage due to religious reasons. So you either check that box or go below 20 hrs/wk. Needless to say, he'll be getting his own high deductible plan since he needs more than 20 hrs. (Doesn't seem to be right to bring religion into this situation, but I guess that was the only way the state felt employers could get around the regulation.)
I mention this because the fed govt is now debating the whole health insurance problem and the requirement that all companies offer insurance.
You can start putting the $10K into a tax free HSA account.
Isn't it nice that you have a choice on what to do about health care? I think more and more people have come to that conclusion.
We actually do have a choice.
Obama is going to eliminate those HSA's. And take away our choice. Hopefully, he will come up with a govt universal plan in addition to what we already have and people can choose what they want and not just have 1 govt option.
Life is good.
Glad you are happy and things are looking and feeling better.
You'll get there.
I also *heart* my high deductible plan and HSA. I almost never go to the doctor so it's much cheaper for me to get catastrophic insurance. I put the difference into my HSA account and use that to pay for dental bills, massage therapy (not covered), aspirin, etc. You know, the things I actually use
My employer actually created a spreadsheet that you can fill out to analyze costs on the different plans. For my plan to become the more expensive option, I have to pass $18,500 in claims for the year. Yikes!
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