I have two plans offered to me, and it seems the one with lower premiums will also have a lower cost overall. Can that be right? Please help me compare these two. Both are PPOs...
A: $26,234 per year, $0 deductible, $8,750 family out of pocket max
B: $14,092 per year, $5,000 family deductible, $7,150 family out of pocket max, HSA option
If I understand correctly, with B, I'm guaranteed to pay $14,092, plus up to $5k of costs as they're incurred, plus 20% after that until I pay another $2,150 (thus hitting my $7,150 OOP max). So worst case, I'm out $14,092 + $7,150 = $21,242 for the year.
With A, I'm paying more than that, just for the premiums. Not to mention, B allows me to put cash into a HSA and miss some taxes there.
Am I missing something here? We're a family of 5, with good health, and no prescriptions other than an occasional antibiotic for the kids.
Thanks!
A: $26,234 per year, $0 deductible, $8,750 family out of pocket max
B: $14,092 per year, $5,000 family deductible, $7,150 family out of pocket max, HSA option
If I understand correctly, with B, I'm guaranteed to pay $14,092, plus up to $5k of costs as they're incurred, plus 20% after that until I pay another $2,150 (thus hitting my $7,150 OOP max). So worst case, I'm out $14,092 + $7,150 = $21,242 for the year.
With A, I'm paying more than that, just for the premiums. Not to mention, B allows me to put cash into a HSA and miss some taxes there.
Am I missing something here? We're a family of 5, with good health, and no prescriptions other than an occasional antibiotic for the kids.
Thanks!