Health Insurance Going HDHP

hdhpWe just found out that Jay’s company is switching to a High Deductible Health Plan (HDHP) in 2016. 🙁

I know there’s the possibility of saving money, but there’s a higher probability of it costing us more. The annual deductible will be $5,500 with an additional $7,000 out-of-pocket max before we are 100% covered. Gone will be the $15 co-pays for doctor visits and prescriptions. And the $75 ER co-pays. Between me and the kids, we’ve had three of those so far this year. Our monthly premiums will go down. And preventive visits will be free – versus paying $15. Woo hoo! Most of the free preventive services in the Affordable Care Act are for things we don’t need. But now our annual dermatologist screenings will cost hundreds instead of $15.

I’m glad I’ve been keeping track of our medical expenses. I have a pretty good feel for what prescriptions are going to cost (or not, as we will be cutting some out). I can also see what it’ll cost when we do have to make an appointment. For sure, we will be getting as much done as possible before the end of the year. Stocking up on prescriptions, too. I will familiarize myself with how the Health Spending Account (HSA) works and make sure to take advantage of all the ways we can “earn” money for it (ie. participating in company health screenings, taking health profiles, etc).

Then, we will, hopefully, find a way to turn this into a money-saving operation. If anyone can do it, I think we can.

3 thoughts on “Health Insurance Going HDHP

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