Posted by
Message
Bonjourno
LSU Fan
New Orleans
Member since Jan 2010
2379 posts

Health insurance decision
Currently pay $164/month for myself through employer. Independently get insurance through blue cross for my wife and 2 kids @ $1120/month. Currently $1284 total/month.

Open enrollment this month at my employer. Entire family will be $1295/month.

Plans are pretty close in benefits. $500 higher individual deductible through my employer but other than that a lower overall out of pocket with my employer plan.

I was looking to switch to my employer for the whole family figuring I will save a good bit more by reducing my taxable income. Does that sound right? Am I missing any other factors to consider?
This post was edited on 5/13 at 11:06 pm


schwartzy
LSU Fan
Baton Rouge
Member since May 2014
6461 posts

re: Health insurance decision
$100 a month cheaper for the new plan is what I would do, but I'm no expert. I figure you might save more up front than you would on any tax deductions.


Replies (0)
Replies (0)
00
BayouBlue
LSU Fan
Austin
Member since Nov 2003
1896 posts

re: Health insurance decision
You want to look at network access. I would guess your employer plan has a much larger network than a localized individual/family health plan.


Replies (0)
Replies (0)
20
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
15136 posts

re: Health insurance decision
quote:

figuring I will save a good bit more by reducing my taxable income


Someone is paying attention

It's absolutely insane that the feds haven't fixed this massive, massive disparity (insurance through your employer is tax deductible, insurance purchased on your own is only available as a medical itemized deduction, which is increasingly harder to get).

That $164/month really costs you less in actual dollars because of the tax favored status, likewise, you will save money - a decent amount, really - by switching all of your family onto your employee plan.

In other words, even though the amount paid to your insurer will go up by $1,131 a month, your net check will go down by a smaller amount.

Not to mention, it's likely a better plan, and it will be easier on you to only have to deal with one insurer for your entire family, than two.

Double and triple check the benefits and the network to be sure, but this sounds like a no-brainer to me.


Replies (0)
Replies (0)
70
AUCE05
Atlanta Braves Fan
Member since Dec 2009
28098 posts

re: Health insurance decision
$1300/month? I would find a new company.


fjlee90
LSU Fan
Baton Rouge
Member since Nov 2016
1991 posts

re: Health insurance decision
Any chance they have a high deductible plan where you can fund an HSA as well?

Best decision I have ever made. But I know its entirely subjective depending on what your company offers.


Bonjourno
LSU Fan
New Orleans
Member since Jan 2010
2379 posts

re: Health insurance decision
Not a high deductible health plan so no HSA. The company only covers a portion of my insurance not the rest of the family. I think our plan is comparable for a similar size company in the industry


Replies (0)
Replies (0)
10
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
15136 posts

re: Health insurance decision
quote:

$1300/month? I would find a new company.


Unless you work for a huge company or the government, that's about par for the course for a family non-high-deductible plan.


Replies (0)
Replies (0)
20
first pageprev pagePage 1 of 1next pagelast page
refresh

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram