SecondAttempt
Thinks s/he gets paid by the post
As I approach 1.5 years from R-day, I'm trying to get my ducks in a row.
My plan is to to use COBRA for 18 months but that is debatable.
But after that I will need about 4 years of fully paid insurance. I am budgeting for the platinum plan, the most expensive option. But I am really not sure how to think about what I actually need or should get.
For example, here are the options from BC/BS Hawaii (HMSA)
Deduct OoP max Coinsur Copay 1 Copay 2
Platinum $0 $7,150 10% $20 $20
Gold I $0 $8,550 30% $40 $40
Gold II $1,000 $8,550 20% $20 $20
Silver I $2,500 $8,550 30% $45 $45
Silver II $2,500 $8,550 30% $45 $45
Bronze I $8,550 $8,550 0% $35 $0
Bronze II $6,900 $6,900 0% $0 $0
Coverage seems to be very similar with the differences being financial.
So how do I pick? I can do the financial what ifs and math but if I am generally healthy, why would I not pick the Bronze II? No copays, no coinsurance if something major happens, etc. Big risk is OoP max for $6900 and the savings over platinum is about $4800 per year.
I can do the math based on my own assumptions. I guess I am just confused because insurance companies are experts at statistics and risk decisions so I don't understand why the math seems so lopsided.
What am I missing?
My plan is to to use COBRA for 18 months but that is debatable.
But after that I will need about 4 years of fully paid insurance. I am budgeting for the platinum plan, the most expensive option. But I am really not sure how to think about what I actually need or should get.
For example, here are the options from BC/BS Hawaii (HMSA)
Deduct OoP max Coinsur Copay 1 Copay 2
Platinum $0 $7,150 10% $20 $20
Gold I $0 $8,550 30% $40 $40
Gold II $1,000 $8,550 20% $20 $20
Silver I $2,500 $8,550 30% $45 $45
Silver II $2,500 $8,550 30% $45 $45
Bronze I $8,550 $8,550 0% $35 $0
Bronze II $6,900 $6,900 0% $0 $0
Coverage seems to be very similar with the differences being financial.
So how do I pick? I can do the financial what ifs and math but if I am generally healthy, why would I not pick the Bronze II? No copays, no coinsurance if something major happens, etc. Big risk is OoP max for $6900 and the savings over platinum is about $4800 per year.
I can do the math based on my own assumptions. I guess I am just confused because insurance companies are experts at statistics and risk decisions so I don't understand why the math seems so lopsided.
What am I missing?