How much is the deductible for the low deductible plan? And what percent of the premium does your employer contribute to both plans? If you pay approximately 20 dollars bi-weekly what does your employer pay? Are there any types of medical care that the HD plan does not cover that the LD plans does? I tend to agree with you, but wonder if because of being responsible for such a high deductible ($2500) many people might forgo routine preventive medical care, physicals, diagnostic lab tests, MRI’s, etc., and not discover life threatening conditions until they have progressed beyond being treatable. This is what the insurance companies bet on. When you buy insurance you are betting on having poor health while the insurance company bets that you won’t be using their services. In your case I suspect that in most years you spend something closer to your $260 premium or much less than anything approaching the $2500 deductible. Your employer saves big when you select the HD plan because its contribution is far less. Generally the high deductible plans benefit couples and especially those with large families. The premium for these people is the same if they have no children or ten. What about prescription medications, as you get older they can easily add up to several hundred dollars or more a month. Many people buy these HD plans because the low premium is all they can afford, but when they are sick they can't afford to use the insurance. Seems like a false sense of security to me.
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chiming
Health Care Insurance
Date: 2013-11-16 03:08 pm (UTC)From: (Anonymous)Many people buy these HD plans because the low premium is all they can afford, but when they are sick they can't afford to use the insurance. Seems like a false sense of security to me.