It’s almost open enrollment period at my firm, so I’m thinking about my health insurance options. Both are high deductible with HSA, one is $2800 deductible and the other $5000. The $5000 one would only save me $20/mo pretax. I’m in my late 20s and have no health issues currently. I barely used any of my deductible last year. Should I risk it to essentially buy an extra lunch each month? Or stick with the $2800 deductible plan.

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I’d stick with the low deductible. Especially in your late 20s, you never know when your going to have an expensive health issue. It’s worth sacrificing the extra $240 in savings for the peace of mind.

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Keep the low deductible. If you are remotely active, drive a car, walk outside, like standing slightly less than 6 feet from your friends... if there’s risk in your life, a lower deductible is your friend, especially at only $20/mo. At $20/mo, you would come out ahead if at any time in the next 5 years you met your deductible. And, god forbid you do hit that deductible, you’ll remember the time you smartly opted for the lower deductible plan; you won’t remember any of the lunches you buy with that $20.

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Are you a woman and can potentially become pregnant or want to try? If so, go with the lower deductible. I honestly don’t really see the advantage of the higher plan in any case.

I have a $2800 deductible and I’m really glad I had it. I’m also late 20s and weirdly developed migraines that led to A LOT of unexpected medical bills...for nothing it turns out. Stress induced haha. So I would recommend the lower deductible with minimal increased cost because you never know what could happen.

Only because they couldn’t figure out what was triggering them. Get The Migraine Brain. Stop eating soy lecithin and see how you feel.

How much are you paying for it? My firm pays for me but if I want my wife and kids covered it’s $1,250/month with a $8,000 deductible per person or $12,000 total.

Is the low deductible offset by a different copay or co-insurance or anything? I feel like there is a catch?

Sorry but those medical plans are horrible especially if you have to pay out of pocket

By way of background I interned at an in-house Counsel/Hr Dept in law school so I had some insight on insurance plans the company was considering. I helped write an update to employees on the differences in the plans so I have a little insight.

High deductible plans should be at no cost to the employee because the employer is saving a huge amount of money versus a normal plan. Given the enormous amount of savings to the firm the company I interned with offered incentives for employees who chose a high plan in the form of an employer contribution to an HSA that could be used to offset expected medical expenses that would have received with co-pays under a normal plan. And the company retained traditional hmo/ppo plans that employees could select with employee contributions.

Lower deductible. Based on the numbers, my guess is that your firm is paying for part of your premium. That means that they keep half the savings of the high deductible plan, but you pay all the cost if you do have unexpected medical issues. Given your lack of medical history, it might be worth it if all the premium savings were passed down to you, but the numbers you’ve described don’t make sense for the higher deductible.

I recommend doing the math to make sure you’re getting the better deal. With the options at my firm, the lower deductible premium was so much higher that it would have still cost more than if I paid maximum out of pocket amount on the higher deductible plan.

I always go with the higher deductible due to my age (upper 20s) and no health complications. I’d rather have the money in my pocket today guaranteed.

Check to max out of pocket to compare that too

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