Health Insurance

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gport_tennis

Senior Member

1,796 posts
Dec 17, 2012 6:30 PM
I am on my company insurance plan, for 2012 they deduct $200 out of each paycheck for insurance. For 2013 the cost is going up to $250 every paycheck.

I am thinking about looking for health insurance myself outside of the company. I am 23, wife is 24, and my son is 4 and we are not planning on having any more children within the next few years.

Some quick online quotes show that I can get health insurance for the family for much cheaper. I don't want to sacrifice quality to much, but we have never used the insurance outside of normal checkups and if I could save 2-3k I should do it.

Anybody have experience in getting health insurance outside of an employer? Advice on things I should look for?
Dec 17, 2012 6:30pm
FatHobbit's avatar

FatHobbit

Senior Member

8,651 posts
Dec 17, 2012 7:33 PM
I would think the biggest things to look for are what network does the new insurance have and are your current drs in it, what is the deductible and what percentages does it pay.
Dec 17, 2012 7:33pm
sleeper's avatar

sleeper

Legend

27,879 posts
Dec 17, 2012 7:39 PM
You won't be able to find a cheaper insurance plan than your company plan; I guarantee it.
Dec 17, 2012 7:39pm
C

Con_Alma

Senior Member

12,198 posts
Dec 17, 2012 7:40 PM
Sounds to me like your not paying the whole premium and that your employer is subsidizing it as part of you compensation benefit.

If you expect to insure your family for less than $250 month nothing will be covered.
Dec 17, 2012 7:40pm
IggyPride00's avatar

IggyPride00

Senior Member

6,482 posts
Dec 17, 2012 7:46 PM
sleeper;1345859 wrote:You won't be able to find a cheaper insurance plan than your company plan; I guarantee it.
Pretty much this.

To cover 3 people (even young ones) for less than $500 a month (I assume 2 paychecks a month at $250 each) with even a reasonable deductible is damn near impossible, much less if you want more than the absolute bare minimum covered.
Dec 17, 2012 7:46pm
W

WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 7:50 PM
^^^ This. You probably aren't seeing all the numbers. Find out how much your employer is paying for you. We have a darn good plan where I am. I pay $247/mo, but my company pays 80% of the premium.
Dec 17, 2012 7:50pm
J

James Gatz

Banned

137 posts
Dec 17, 2012 8:06 PM
Con_Alma;1345860 wrote:Sounds to me like your not paying the whole premium and that your employer is subsidizing it as part of you compensation benefit.

If you expect to insure your family for less than $250 month nothing will be covered.
You're*
Dec 17, 2012 8:06pm
G

gport_tennis

Senior Member

1,796 posts
Dec 17, 2012 8:08 PM
Con_Alma;1345860 wrote:Sounds to me like your not paying the whole premium and that your employer is subsidizing it as part of you compensation benefit.

If you expect to insure your family for less than $250 month nothing will be covered.
My cost for health insurance only next year would be almost $6600 dollars, a $1200 dollar increase. I also know that are copays are increasing and are deductible's are increasing by a few thousand as well. If that's truly the best value for my family then so be it. For the coverage we need it just seems like we can find insurance for cheaper.
Dec 17, 2012 8:08pm
C

Con_Alma

Senior Member

12,198 posts
Dec 17, 2012 8:14 PM
gport_tennis;1345873 wrote:My cost for health insurance only next year would be almost $6600 dollars, a $1200 dollar increase. I also know that are copays are increasing and are deductible's are increasing by a few thousand as well. If that's truly the best value for my family then so be it. For the coverage we need it just seems like we can find insurance for cheaper.
I would bet you won't find it cheaper. Even a high deductible plan, $5,000 per person, is going to cots you more than $250 per month for the family.
Dec 17, 2012 8:14pm
G

gport_tennis

Senior Member

1,796 posts
Dec 17, 2012 8:20 PM
Con_Alma;1345875 wrote:I would bet you won't find it cheaper. Even a high deductible plan, $5,000 per person, is going to cots you more than $250 per month for the family.
But will it cost me more than $540 a month? That's what I will be paying starting Jan 1st. Not including dental which is another $100 a month.

$5000 deductible is what I have now through the end of this year. It will increase Jan 1.
Dec 17, 2012 8:20pm
C

Con_Alma

Senior Member

12,198 posts
Dec 17, 2012 8:22 PM
gport_tennis;1345878 wrote:But will it cost me more than $580 a month? That's what I will be paying starting Jan 1st. Not including dental which is another $100 a month.

$5000 deductible is what I have now through the end of this year. It will increase Jan 1.
I'm guessing it will cost you more than $580 per month for a family. Yes. Is your deductible $5,000 for the family or per person?
Dec 17, 2012 8:22pm
S

Shane Falco

Senior Member

440 posts
Dec 17, 2012 8:23 PM
Your company insurance is required to carry maternity If you go out side of your company and buy your own policies .... you are not required to carry that...thats why its cheaper. If you knock her up your S.O.L!!! My wife and i did this for few years after we were done having kids. Remember at the end of the month you get a bill to pay... its not taken out of your check. Also something to think about. Lots of insurance companies now wont take a spouse if their place of employment offers insurance. So after a few years you decide to go back on your company insurance, they have to take you but not your wife if she can get insurance at her place of employment. She would have to take it at her work.
Dec 17, 2012 8:23pm
IggyPride00's avatar

IggyPride00

Senior Member

6,482 posts
Dec 17, 2012 8:29 PM
Make sure when you're looking around pricing that you also price in prescription coverage, because to add it to your policy when buying individually it is often sold seperate.

Don't skimp in that area. All it takes is one good infection some how for you, your wife or child and the costs of some medicines would negate your entire savings on the premium for the year if you happen to find it cheaper.

Going it alone is fine, but make sure you have thought of every possible contingency because the worst thing in the world is finding out something you need isn't covered, and then all the sudden the financial flood gates open because just about everything medical related now a days costs a fortune.
Dec 17, 2012 8:29pm
G

gport_tennis

Senior Member

1,796 posts
Dec 17, 2012 8:31 PM
Con_Alma;1345879 wrote:I'm guessing it will cost you more than $580 per month for a family. Yes. Is your deductible $5,000 for the family or per person?

Per person
Dec 17, 2012 8:31pm
C

Con_Alma

Senior Member

12,198 posts
Dec 17, 2012 8:35 PM
gport_tennis;1345885 wrote:Per person
We carry the same level. I would caution you to read the entire contract thoroughly as stated above. Things you may not even be aware exist may or may not be covered. Be very cautious in your willingness to move forward.

Good luck to you in your search.
Dec 17, 2012 8:35pm
W

WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 8:46 PM
$5,000 per. I assume $10,000 family? You are paying a lot (meaning your company is not covering as much as I've been lucky to have), but as cautioned above, research the hell out of your current plan and any plans you are considering.
Dec 17, 2012 8:46pm
M

MontyBrunswick

Dec 17, 2012 8:50 PM
I pay like $34 a paycheck because I'm single and have no kids.

AKA I'm a baller.


Dec 17, 2012 8:50pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Dec 17, 2012 8:56 PM
dlazz;1345911 wrote:I pay like $34 a paycheck because I'm single and have no kids.

AKA I'm a baller.



I pay $0 a paycheck for a family of 3.

AKA I'm a king?
Dec 17, 2012 8:56pm
M

MontyBrunswick

Dec 17, 2012 8:56 PM
GoChiefs;1345920 wrote:AKA I'm a king?
Royalty doesn't watch NASCAR.
Dec 17, 2012 8:56pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Dec 17, 2012 8:57 PM
dlazz;1345921 wrote:Royalty doesn't watch NASCAR.

"The King" Richard Petty disagrees.
Dec 17, 2012 8:57pm
W

WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 8:58 PM
GoChiefs;1345920 wrote:I pay $0 a paycheck for a family of 3.

AKA I'm a king?
Starting Jan 1 I pay $0 and have $90/mo put in an HSA by my company. Getting paid to have insurance.
Dec 17, 2012 8:58pm
W

WebFire

Go Bucks!

14,779 posts
Dec 17, 2012 9:02 PM
ccrunner609;1345924 wrote:How do you like that insurance costs since Obamacare kicked in?
Now there is a post I can endorse. ;)
Dec 17, 2012 9:02pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Dec 17, 2012 9:03 PM
ccrunner609;1345924 wrote:How do you like that insurance costs since Obamacare kicked in?

:thumbup:
Dec 17, 2012 9:03pm
M

MontyBrunswick

Dec 17, 2012 9:05 PM
Healthcare has been rising steadily for the past 30 years. Obamacare isn't going to make it any less affordable than it was already going to become. The system is broken.

/the most political post I'll ever make.
Dec 17, 2012 9:05pm
IggyPride00's avatar

IggyPride00

Senior Member

6,482 posts
Dec 17, 2012 9:09 PM
ccrunner609;1345924 wrote:How do you like that insurance costs since Obamacare kicked in?
Bought my own insurance through most of the last decade, and I can say definitively that 10-20% increases a year have been happening for almost a decade now, long before Obamacare.

Then again that's what happens when Americans are asked to supplement the cost of healthcare for the entire world. Since we are the only market that will pay whatever the asking price is, we pay for the profit margin they aren't making on the other 180+ countries in the world. It is the dirty little secret no one wants to talk about.
Dec 17, 2012 9:09pm