- 15,319
This is posted primarily for Al who I think is incorrect as to the value of a separate deductible (embedded) in an HSA plan.
I ran the following quote in my zip code of 91316. Family of 4, ages 37/40/7/9.
Here are the results:
$243 Health Net $8,000 Family Deductible
$265 Blue Cross $7,000 Family Deductible
$336 Aetna $5,000 per person/$10,000 Family
$405 Nationwide $3,500 Family Deductible
$425 Aetna $3,000 per person/$6,000 Family
My interpretation of the results:
Why would anyone spend $852 more per year to go from Blue Cross to Aetna 5K deductible plan? In other words, you are guaranteed to spend $852 to save $2,000 in the event of a catastrophe that happens to ONE person. What if more than one person has a major claim?
Let's look at the Nationwide plan that is cheaper than the 3K Aetna plan. I would spend $240 more for Aetna to save $500 on ONE person. If more than one person had claims, the Aetna policy would likely cost me more money.
Bottom Line:
You have to do more than believe something is better. You need to do the math. A professional insurance agent will do this. A hack will just go with their gut feeling.
Rick
I ran the following quote in my zip code of 91316. Family of 4, ages 37/40/7/9.
Here are the results:
$243 Health Net $8,000 Family Deductible
$265 Blue Cross $7,000 Family Deductible
$336 Aetna $5,000 per person/$10,000 Family
$405 Nationwide $3,500 Family Deductible
$425 Aetna $3,000 per person/$6,000 Family
My interpretation of the results:
Why would anyone spend $852 more per year to go from Blue Cross to Aetna 5K deductible plan? In other words, you are guaranteed to spend $852 to save $2,000 in the event of a catastrophe that happens to ONE person. What if more than one person has a major claim?
Let's look at the Nationwide plan that is cheaper than the 3K Aetna plan. I would spend $240 more for Aetna to save $500 on ONE person. If more than one person had claims, the Aetna policy would likely cost me more money.
Bottom Line:
You have to do more than believe something is better. You need to do the math. A professional insurance agent will do this. A hack will just go with their gut feeling.
Rick