Need health insurance advice

[crzyjournalist03]

My company has decided to give us a new, cheaper option for health insurance. In my case, I'd save $10 biweekly by going to the cheaper option (I'm the only one on my plan).

Essentially, copay on regular medical visits go from $20 to $35. Considering I haven't actually been to the doctor for about five years, that's definitely a gamble I'm willing to take.

Prescription costs and most other costs stay the same.

The catch is on major medical. My deductible would go from $500 to $1000, and coverage after that would drop from 90% to 80% after the deductible, so essentially, a hospital visit is going to cost you twice as much.

Now, I've always been in good health, and I hate paying for insurance that I never use. I've been in the hospital twice in my life, once for a broken arm when I was five, and another time when I was physically assaulted. I work at an office, so there's very little chance of injuring myself in my line of work.

Do you guys think it's worth the gamble for five dollars a week? I wouldn't even hesitate if I were injury or accident prone, but considering I never use it, I feel like it's money going down the drain. With that said, is the hospital risk enough to just pay the extra ten bucks for safety or not? What would you guys do in my position?

[eagles_victory]

you got physically assulated and sent to the hospital when?

[Ranger Mom]

Originally posted by eagles_victory
you got physically assulated and sent to the hospital when?

You haven't heard that story??

Anywho crazy....for $5 bucks a week, I would stay with the one with more coverage. You NEVER know when you are gonna be in a wreck, etc. Better safe than sorry!!

I could see if it was a HUGE price difference, but it's not!!

Just my opinion!!

[crzyjournalist03]

Originally posted by eagles_victory
you got physically assulated and sent to the hospital when?

Fall of 2002 thanks to some Wilmer-Hutchins kids who liked to pick on the big furry jackrabbit.

[Macarthur]

You have a family?

[crzyjournalist03]

Originally posted by Macarthur
You have a family?

wife and a daughter on the way...but she has her own plan and most likely that's the one we'll use for the baby as well.

[LH Panther Mom]

What would you do with the $5/week if you went to the cheaper plan? If you put it in savings, and don't touch it, there's the difference if something happens. I personally would stay with the better plan, mainly because I wouldn't miss $5 but $500 would be "ouch".

[Ranger Mom]

Originally posted by LH Panther Mom
What would you do with the $5/week if you went to the cheaper plan? If you put it in savings, and don't touch it, there's the difference if something happens. I personally would stay with the better plan, mainly because I wouldn't miss $5 but $500 would be "ouch".

Yeah!!!!

The moms have spoken!!

[SWMustang]

Originally posted by crzyjournalist03
wife and a daughter on the way...but she has her own plan and most likely that's the one we'll use for the baby as well.

how come you're not all on one plan or the other? I'd stay with the plan you have instead of dropping down.

[crzyjournalist03]

Originally posted by LH Panther Mom
What would you do with the $5/week if you went to the cheaper plan? If you put it in savings, and don't touch it, there's the difference if something happens. I personally would stay with the better plan, mainly because I wouldn't miss $5 but $500 would be "ouch".

yeah...that's a good point...if I go two years without being hospitalized, the deductible is made up for, meanwhile I'm at least earning some kind of interest on it...but without knowing the exact costs of hospital visits, I'm more worried about the extra 10 percent of the costs that I'd be responsible after the deductible.

[crzyjournalist03]

Originally posted by SWMustang
how come you're not all on one plan or the other? I'd stay with the plan you have instead of dropping down.

It's more expensive for me to add her to mine or her to add me to hers than it is for us to have our own. And as far as the child, we'll just put her on whichever one is cheaper...we haven't compared rates quite yet, but we both think hers will be because she works for a government entity.

[LH Panther Mom]

Originally posted by crzyjournalist03
yeah...that's a good point...if I go two years without being hospitalized, the deductible is made up for, meanwhile I'm at least earning some kind of interest on it...but without knowing the exact costs of hospital visits, I'm more worried about the extra 10 percent of the costs that I'd be responsible after the deductible.
Then you should stay with what you have, IMO. :) That 10% can add up fast ($70 for 1 bandaid, $25 for 1 tylenol j/k).

[crzyjournalist03]

Originally posted by Ranger Mom
Yeah!!!!

The moms have spoken!!

haha...that's why I asked on a message board instead of just calling my mom...I already know what SHE'D say about it!!! :D

[crzyjournalist03]

Originally posted by LH Panther Mom
Then you should stay with what you have, IMO. :) That 10% can add up fast ($70 for 1 bandaid, $25 for 1 tylenol j/k).

I've heard horror stories like that though...what exactly does a hospital visit cost for a broken bone or something?

[STANG RED]

Spend the extra $5 per week for the better option. Just one short hospital stay can cost thousands, and things can happen quick so why take the chance.
What about emergency care? Is it the same on both plans, or does the better plan have better emergency care to? If you have dental and/or vision care, sometimes those can very different from one plan to the next. Just one pair of glasses can make up the difference sometime.

[Ranger Mom]

Originally posted by LH Panther Mom
Then you should stay with what you have, IMO. :) That 10% can add up fast ($70 for 1 bandaid, $25 for 1 tylenol j/k).

Heck....thats not far from the truth.

My little excursion to the ER was $982.00 dollars.

No x-rays, no stitches, no meds.....just some betadyne, some dura-bond (extremely expensive super glue) and a steri-strip!!

[crzyjournalist03]

Originally posted by STANG RED
Spend the extra $5 per week for the better option. Just one short hospital stay can cost thousands, and things can happen quick so why take the chance.
What about emergency care? Is it the same on both plans, or does the better plan have better emergency care to? If you have dental and/or vision care, sometimes those can very different from one plan to the next. Just one pair of glasses can make up the difference sometime.

yeah, surgery, major medical, and x-rays are the places that I'd be responsible for the extra 10 percent after my deductible...vision, dental, and prescription costs remain the same on both plans.

[crzyjournalist03]

Originally posted by Ranger Mom
Heck....thats not far from the truth.

My little excursion to the ER was $982.00 dollars.

No x-rays, no stitches, no meds.....just some betadyne, some dura-bond (extremely expensive super glue) and a steri-strip!!

dang...ok...yeah...you guys are scaring me into the extra five bucks...at least the five bucks comes out before taxes!

[LH Panther Mom]

Originally posted by crzyjournalist03
I've heard horror stories like that though...what exactly does a hospital visit cost for a broken bone or something?
I guess it would depend what bone and how bad the break, since some could be handled as ER. Thankfully (knock on wood) none of us have broken anything.

[crzyjournalist03]

Originally posted by LH Panther Mom
I guess it would depend what bone and how bad the break, since some could be handled as ER. Thankfully (knock on wood) none of us have broken anything.

hmm...it really wouldn't make a difference on my plan since hospital, ER, and all major medical are counted in the same category.

[LH Panther Mom]

Originally posted by crzyjournalist03
dang...ok...yeah...you guys are scaring me into the extra five bucks...at least the five bucks comes out before taxes!
If you can't reason with 'em, scaring the crap out of 'em works, too. :D ;) (It's better to be safe, than sorry.)

[LH Panther Mom]

Originally posted by crzyjournalist03
hmm...it really wouldn't make a difference on my plan since hospital, ER, and all major medical are counted in the same category.
Well, a trip to the ER could cost $500-$1000, depending. A hospital "stay" will cost that/day, at the very least.

[crzyjournalist03]

Originally posted by LH Panther Mom
Well, a trip to the ER could cost $500-$1000, depending. A hospital "stay" will cost that/day, at the very least.

weird...I don't see a "just put me out of my misery" option on my insurance plan after X number of days...

That sure would help matters...


:thinking: ;)

[Phil C]

Originally posted by STANG RED
Spend the extra $5 per week for the better option. Just one short hospital stay can cost thousands, and things can happen quick so why take the chance.
What about emergency care? Is it the same on both plans, or does the better plan have better emergency care to? If you have dental and/or vision care, sometimes those can very different from one plan to the next. Just one pair of glasses can make up the difference sometime.

I agree Stang. Even though he is very young you never know when something will happen. Of course if someone was forty or over I would difinitely recommend the higher plan for sure. We had an option this year for the higher and lower plan so I went with the higher plan. A good thing too with my shoulder surgery. With the medical and physical therapy costs if I had gone with the lower plan I would have had to have paid about $1,948. With the high plan I paid $948. A $1,000 difference.

[Phil C]

Also bear in mind that my surgery was an in and out type and no hospital stay. That would really have been expensive.

[espn1]

Originally posted by crzyjournalist03
My company has decided to give us a new, cheaper option for health insurance. In my case, I'd save $10 biweekly by going to the cheaper option (I'm the only one on my plan).

Essentially, copay on regular medical visits go from $20 to $35. Considering I haven't actually been to the doctor for about five years, that's definitely a gamble I'm willing to take.

Prescription costs and most other costs stay the same.

The catch is on major medical. My deductible would go from $500 to $1000, and coverage after that would drop from 90% to 80% after the deductible, so essentially, a hospital visit is going to cost you twice as much.

Now, I've always been in good health, and I hate paying for insurance that I never use. I've been in the hospital twice in my life, once for a broken arm when I was five, and another time when I was physically assaulted. I work at an office, so there's very little chance of injuring myself in my line of work.

Do you guys think it's worth the gamble for five dollars a week? I wouldn't even hesitate if I were injury or accident prone, but considering I never use it, I feel like it's money going down the drain. With that said, is the hospital risk enough to just pay the extra ten bucks for safety or not? What would you guys do in my position?

You need to incorporate a Level Term Policy with your health policy. I have some incredible policies that I write for my customers. Let me know if you'd like to discuss it, I can pm you my tele #. I have a great plan that can get you a return of premium if you don't use it. Also many other benefits.

[44INAROW]

Originally posted by espn1
You need to incorporate a Level Term Policy with your health policy. I have some incredible policies that I write for my customers. Let me know if you'd like to discuss it, I can pm you my tele #. I have a great plan that can get you a return of premium if you don't use it. Also many other benefits.

I didn't realize you were an agent - I stick with the P&C side but have a license for Life and Health and (Level 6 or whatever it's called) as well but never really dealt with it -

we have quite a few of our customers (employers with group policies) purchasing the "additional" type policies to enhance their health insurance. Probably like the Level Term you mention - they've been pleased with the options etc. They've been doing some HSAs as well......

[3afan]

pay the extra $ ...... just having to pay the $1k deductible ONCE - thats $500 more than the cheap route


it not worth saving $5 a month --- one "slip of a saw" or "slip on ice" and you're losing big time .....

[STANG RED]

Originally posted by espn1
You need to incorporate a Level Term Policy with your health policy. I have some incredible policies that I write for my customers. Let me know if you'd like to discuss it, I can pm you my tele #. I have a great plan that can get you a return of premium if you don't use it. Also many other benefits.

When I was selling life insurance several years ago, I would sell a term life policy with an annuity rider that was real good for young adults in their 20s. The term policy was cheap even with sizeable coverage, so they could put a pretty good chunk in the annuity. By the time they got into their 40s to 50s and their premiums werent so cheap on the term policy anymore, they had way more than enough in the annuity to where they could just drop the term policy. I didnt make much commision on those when I wrote them, but it was a real good deal for the clients. I just had to write a lot of them to make much money. At the time, the annuity I was selling was preforming right at around 12%, with a gurantee to never drop below 4%.

[Macarthur]

Yea, I agree with everyone here. Stay with the better plan.