Health Care: Is Anyone Self Insured?

[disneysteve]

All my friends with HDHP hate it. There isn't anyone who really likes it because it cost more than HMO style care.

It's too soon for me to really comment on this, but at least on paper, I like it better.

Our previous plan didn't cover vision or dental. It also didn't cover mental health (except at an in-network provider). So we were paying for all of those things out of pocket with post-tax dollars. And the monthly premium was higher.

Now, with the HDHP/HSA, those things are still not covered but we are paying a lower monthly premium and we are able to cover those costs with pre-tax dollars which saves us additional money. So our out of pocket costs for the year will be much lower than with an HMO or PPO plan.

[LivingAlmostLarge]

DS Would you do a HDHP if you worked for a large company with a HMO/PPO plan? Would you pick it over something that was more a comprehensive plan? I've found that companies do it to save money but for many people it's usually a cut in their overall benefits.

[disneysteve]

DS Would you do a HDHP if you worked for a large company with a HMO/PPO plan? Would you pick it over something that was more a comprehensive plan?

I would have to look at the available options and the costs involved with each. If I still felt the HDHP was going to cost us less out of pocket, I'd certainly still consider it. That's why I picked it currently. I have other options available to me but they were all considerably more expensive.

[LivingAlmostLarge]

what's the cost of the other plans versus what you chose?

[GoodSteward]

We live in insurance hell, otherwise known as New Jersey. Home of the highest insurance rates in the country.

That's odd. My company is HQ'd in NJ, and our rates are cheaper than GA rates because of it, or at least that is what I'm told. I live in GA, but when it is paid BCBS GA passes it to BCBS NJ.

[disneysteve]

what's the cost of the other plans versus what you chose?

I don't have that info available at this point but the next cheapest plan was a couple hundred dollars/month higher.