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tgfann | Employer is changing our medical insurance, need help!? |
My husband works for Hess (delivering gas) and right now we pay $75 a week for our benefits and when we go to the doctor we pay a $20 co-pay and our medical coverage takes care of everything else. But Friday we found out that beginning on Jan 1st they're switching health plans.
Now it'll cost us a whopping $8 a week and they cover NOTHING until we reach a $3000 deductible each year! I'm blown away. I can't even believe this is possible. I don't know what to do. Is there ANYTHING I can do?
And get this, directly from the book they sent with the info about the new coverage: The Health4Life Plan is designed to empower you to take control of your health as well as the dollars you spend on care.
What a bunch of BULL! |
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Wendy S
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You are not looking at this right. You need to look at the numbers.
I can't compare the COVERAGE of the two plans, and I'm assuming that it's $3000 deductible for the family, not per person. If I am right then from only the money perspective this is actually about the same, perhaps better.
If you are paying $75 a week for your insurance that works out to $3900 per year. Under the new plan you'll be paying $8 a week, or $416 per year. That's a net savings in premium of $3536 per year - not counting the $20 copay you're making each visit.
So, under the old plan you were paying $3900 whether you were sick or not. Under this new plan you'll only pay if you ARE sick. So if you only spend $1500 next year you'll have $2400 more in your pocket at the end of the year than you would have under the old plan!
Does either your or his employer offer a MSA or an HSA? These programs allow you to set aside money with pre-tax dollars, allowing your money to go even further.
Yes, you're going to need to save that leftover $68 a week. And yes, it's going to stink if you have a large medical expenditure before you've saved that premium. But hopefully at the end of the year you'll have enough saved to really offset the costs, and in time be able to save up some really nice money.
And if you do wind up having to spend the $3000 in one year, you're STILL going to wind up ahead by $536 plus all those $20 copays!
Best of luck!
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mbrcatz
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OK, do the math. The new amount you're paying, is more than $3,000 LESS than the old amount you are paying, over the course of the year.
This is costing you less. And of course, if you don't spend the whole $3,000 in medical care, it will save you even MORE money.
Do the math! This isn't a bad deal!!!! You're going from $75 a week to $8 a week? Just put that $67 a week difference into the bank!! |
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sarah314
 |
Not much you can do - that's the plan the company chose, so that's what you have to live with. Technically, they don't have to offer you any insurance at all.
I've actually worked on some consulting projects for Hess's benefit plans in the past. (Not on this benefit change though - stopped doing consulting a couple of years ago.) You should find out whether Hess is helping to fund a Health Savings Account for employees to assist with this transition. Having a general feel for how they have handled benefit decisions in the past, I'd be very surprised if they did not assist employees in funding the $3,000 deductible.
When the employer helps fund a Health Savings Account to go with a high-deductible health plan, its not really a bad deal. Everyone saves on premiums, and you only pay for the care you actually use.
If the employer switches you to a $3,000 deductible health plan and doesn't help put money in a health savings account, then that is a rotten situation. (Unfortunately, there isn't much you can do about it other than try to buy your own plan on the private market.)
Definitely find out if they are going to help fund an HSA or help pay for the deductible though - that would make the situation much better. |
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Katie
 |
Plans like that are becoming really popular these days--they're called Consumer Driven health plans. Basically when you're paying for your medical care, you're more apt to live healthy and make better choices about it you know? You'll be less "wasteful" about it.
Ok anyway--back to your actual question, there isn't really anything you can do unfortunately :( Maybe you could put aside the money you save in premiums each week and use that to help with the cost of your medical bills.
Sorry! :( |
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KG Mom
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What about indivdual plans if you qualify? |
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debijs
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~~This sadly is happening across the nation. The cost to the companies for employee health insurance is skyrocketing. Unfortunately your only choices would be to opt out and find private insurance, or seek new employment. I thin it's imperative to get a national health plan started right away. The high premiums, low coverages are killing families and this is one of the main reasons moving companies overseas is so attractive. It makes the companies more competitive without this insurance burden. So sorry to hear you are another victim.~~ |
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