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Rising Star
Its at no cost
Its expensive as hell
Confusing
I get it - they’re saying the premiums are $0 but the benefits are shit. Terrible copay and terrible deductible. Looked great on the surface but is terrible if you need actual care.
Chief
Seems a bit misleading on your employer's part. My wife has the same type of plan with a $10k deductible per insured, but the employer also provides a benefits card to use to cover the entirety of the deductible(s). So it's truly no cost and it's amazing.
Indeed, I think that benefits card would make it perfect.
You should HDHP and fully load the HSA. I wish I'd have done it from the start. It's the most tax advantaged account most ppl can have.
We have been going through this same issue, even on meds we are paying so much it's pretty bad. I wish there was another option because it's tough paying almost 1000$ a month in bills
Your employer pays all of the premiums, so no deductions from your paycheck. BUT, you still have to pay hella copays and deductibles. AND, those deductibles and copays are much higher than they are on other plan options. So next year I will go back to payroll deductions for my insurance lol.
Now, I don’t have kids and I’m not married, so my monthly deductions for insurance are cheap. If you have kids, a spouse, etc then your monthly insurance premium might be quite high, and in that case it may make more sense for you to select the 100% employer paid option. You’d save hundreds of dollars a month in premium costs.
For me as one person it’s cheaper to pay a few dollars per month than pay the copays and deductibles.