I just received my retirement healthcare renewal material. I retired almost almost 3 years ago at age 55 so now at 58. I have always selected the PPO option vs. the CDHP option and have no complaints The past 3 years I opted out of the prescription coverage since it seemed way too expensive at ~2K/year and not very good IMO. My health is very good and up until now anyway and have only needed preventive care.
The basic info on each plan is below, I am now debating on whether to go with the PPO given the price is about the same and the deductible and max out of pocket expenses are somewhat lower, or the CDHP that has the $1,000/year carryover. However it is not an HSA fund so if I don't use it before I turn 65 or if I switch plans again, I lose whatever has accumulated. Actually the two choices look kind of like a "wash" now.
Any comments would be appreciated. (FYI - my megacorp pension plan pays ~$400/month of the monthly cost listed below
Anthem CDHP (Myself only)
Premium - $845/mo (no option to opt out of prescription coverage)
Deductible - $800
In Network Out of pocket Max - $5,000
PDOC office visit 80% covered after deductible is met
Specialist office visit 80% covered after deductible is met
Carryover - $1,000/year
(not an HSA - funds are forfeited when plan ends which by definition will be NLT when I turn 65).
Anthem PPO (Myself only)
Premium - $860/mo
($700/month if I dont select prescription coverage which is not a very good plan IMO
I know I am not supposed to do this for 2014 per new ACA law, but I opted out the last 3 years since I am on no maintenance meds and saved an estimated $5,000 the last 3 years - still debating for 2014).
Deductible - $500
In Network Out of Pocket Max - $3,000
PDOC office visit $20 copay
Specialist office visit $40 copay