If you have a $500 per person deductible

If you have a $500 per person deductible, and the plan only pays 80% of COVERED expenses, then you would be out !!!!$5908!!!! a year before it pays the first penny. >>

While most plans do have a $500 per person deductible and a lot of them pay 80% after that, not everything falls into that category. A lot of things don’t fall into the deductible category. For instance, on our plan, allergy shots are 100% covered without a deductible. A lot of times, certain tests and lab work are covered before the deductible. Also a lot of plans have a co-pay amount before you reach the deductible amount – our’s has a $15 co-pay for Doctor appointments and a $25 prescription co-pay.

Health care is very expensive. Our premiums are $104 bi-weekly and DH’s employee picks up a portion of them. However, we receive more than the premiums back in benefits just on my asthma/allergy shots alone. My allergy shots cost $26 weekly (fully covered, no deductible), $300 quarterly medicine charge – allergy shots have to be special ordered and put together for each person (fully covered, no deductible), Doctor charge to rewrite prescriptions when they expire once a year – $250 (fully covered – no deductible), 4 monthly prescriptions total $375 monthly – $4,500 yearly (no deductible – co-pay $25 each or $1,200 per year out of pocket for us).

Last month I had a UTI, we paid $40 ($15 office visit – $25 co-pay for antibiotic). The total bill was $200 including lab work which insurance paid all of. All of these charges are on the same person before the $500 deductible.

My DH has been trying to get a diagnosis on something else for 2 months. So far, we have paid $720 out of pocket (including the $500 deductible) but the insurance bills processed so far have exceeded $5,000.00.

I know that the constant deduction from your paycheck may seem like wasted money – and it was for us for years. But please think carefully before dropping health insurance. Everyone gets sick eventually and there is no faster way to undo years of frugal living and hard work.

It doesn’t just happen to old people, my DH is 37.

$104 biweekly is quite a chunk

$104 biweekly is quite a chunk, but it really depends on how good the coverage is, and what your deductible is. Look at it this way…. If you have a $500 per person deductible, and the plan only pays 80% of COVERED expenses, then you would be out !!!!$5908!!!! a year before it pays the first penny.

One hospital visit may be more than that, but in emergency situations, all hospitals make payment arrangements. This is the type of insurance offered by my employer (state of MS), and it would cost me close to the same amount to cover my family. Luckily my dh and I both work at Ole Miss and our insurance is paid for–the kids qualify for Children’s Health Insurance (a new state program), and I’m signing them up on Monday.

I would maybe check on getting a hospitalization only type of insurance, since that’s the only way this policy could benefit you anyway.

About health insurance plan

I know that 104/week sounds like a lot (which is is!) but one visit to the hospital will costs way more than this! Even a visit to urgent care will costs more than that. My son’s kindergarten checkup costs over 300 (including all the test and shots). I was so thankful that I only had to pay $10. I have health problems so insurance isn’t optional. I pay over 100/month in copays for meds and office visits just for me.

Puts a damper in the budget but I have no choice if I want to function. I would keep the insurance and look to cut in other areas. BTW, are premiums are $527/month but fortunately, dh’s employer (the state of California) pays for all of it.

I also would love to know about a good insurance plan.. My husband hopes to retire next year and after Cobra will not have any..He had cancer a couple of years ago and that makes it harder to get inexpensive insurance..