re: Employer Provided Health Plans - Cost

Bcbs of minn - I don’t know why our parent company is out of Chicago. Ppo plan
$274/month
It actually went down because higher compensated were paying more. In 2024 they gave lower income employees and adjustment of income. So everyone else’s dropped about $85/month

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Do you run this through the group market?

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Idk what this means. I initially bought the plan on the healthcare marketplace, now I have an agent who handles it.

If you are self employed, and you have an employee, employ your spouse, or simply have your spouse present on your articles of organization, you can set up a group policy. Group rates are on average around 40% less and better benefits than individual market. This is assuming you are not getting a subsidy in individual market. With subsidies involved, I wouldn’t know price differences.

What I mean by group is you set up a company sponsored plan.

And through group policies, you can pay all premium pre tax as a business expense.

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Group rates are on average around 40% less and better benefits than individual market

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Hasn't been our experience.

We have a group policy with about 5 of us on the policy. We shop rates through a broker every year. Humana, united health care are about the same, bcbs much higher. But all about $1900-2300 per month per person/family. Benefits and coverage is alright. Hsa plans roughly 1500-1700 from those plans.

Comparable plans on the exchange for us would run 1400-1500(hsa on the low end, gold plans on the high end). This is with no subsidies. Of course hospital choice and provider choice is more restricted with the exchange vs the commercial plans.

If you're self employed do a schedule c. You can deduct health insurance premiums regardless of if you have an individual plan vs a group sponsored policy.

Was paying about $1000 a month for family coverage. This is with my employer paying my entire portion of the premium. Just negotiated with them to cover the entire premium so 12k a year back into my pocket ??

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If you are self employed, and you have an employee, employ your spouse, or simply have your spouse present on your articles of organization, you can set up a group policy. Group rates are on average around 40% less and better benefits than individual market.

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Interesting. Was not aware of this. I do employ my spouse currently, I will def be looking into this. Thanks, this comment might’ve just saved me a decent chunk of change per year.

Family plan.

I pay $132.72 bi-weekly.
My employer pays 722.82.

Broken down monthly, I would be paying $287.56 and my employer would be paying $1556.11.

Employer pays $1,500 into my HSA.

$5000 deductible.
25% in network copay.
$13,300 out of pocket max.

It would make you throw up to see my plan before ACA (same employer).

Family of 4.

High deductible plan:

$378/month + $59/month dental + $13/month vision
$4k individual deductible/$8k family
20% after deductible up to $6k individual max/$12k family max
$600 from company for HSA

Lots of other perks like $10 max copay on generic prescriptions, supplemental life insurance, LifeLock subscription, etc.

Some of these company HSA contributions make me jealous.

Currently $100/month for just me
Would be 550/month if I had a family.

Family deductible is 2k but out of pocket max is 12k

I pay about $75 month for a family plan HDHC with an HSA that I contribute 100% to.

And for those of y’all mentioning how many kids you have on the plan, understand that you pay the same whether you have 1 kid or 11 kids on the plan by federal law.