What ACA plan to choose? So many options.

[Alan123]

Is there a website available that would allow you to enter # of doctor visits anticipated along with medications and other tests you know that will be needed in the year and recommend the lowest all in cost to plan? The few medical questions most websites ask doesn't really fit my situation and I’m not being directed to the best plan for my situation. Interested in your comments. Thanks

 

[MichaelB]

We do have here a couple of excel spreadsheets designed by forum members that allow you to input different policy premiums and out of pocket costs to compare the total cost of health care for a year.

Here’s one by Animorph https://www.early-retirement.org/fo...nd-coinsurance-copay-68965-3.html#post1374536

Here’s one by Pixelville https://www.early-retirement.org/fo...tions-comparison-model-74215.html#post1510282

 

[easysurfer]

In my case, I only had two choices. I filtered and picked HSA eligible. That only left two possibilities. One is PPO the other HMO. I prefer PPO and my doc is in network so I went with that.

Even easier, I don't have to re-apply since the PPO plan is the default from my provider from last year. I just keep on paying premiums on autopay and that's it. Already have my insurance card for 2024 year.

 

[RunningBum]

In my case, I only had two choices. I filtered and picked HSA eligible. That only left two possibilities. One is PPO the other HMO. I prefer PPO and my doc is in network so I went with that.

Why would you limit it to HSA plans only? As I posted elsewhere, I have always had an HSA plan but I won't be choosing one for next year as they are too expensive.

 

[easysurfer]

Why would you limit it to HSA plans only? As I posted elsewhere, I have always had an HSA plan but I won't be choosing one for next year as they are too expensive.

Why choose an eligble HSA plan? Because I have a HSA.

 

[COcheesehead]

Why would you limit it to HSA plans only? As I posted elsewhere, I have always had an HSA plan but I won't be choosing one for next year as they are too expensive.

We could renew our current plan for 2024 with or without an HSA. I ran a proforma tax return for 2024 and realized the HSA provided an almost $100 a month premium advantage and was the clear winner. I could have picked a lower premium, but that policy had higher out of pocket costs and no tax deduction for HSA contribution.

 

[RunningBum]

Why choose a HSA plan? Because I have a HSA.

I have an HSA. The only impact of not choosing an HSA plan next year is that I won't be able to make an HSA contribution. I can still accumulate medical bills and use them for HSA withdrawals. I'm unclear why this is a factor for you.

 

[RunningBum]

We could renew our current plan for 2024 with or without an HSA. I ran a proforma tax return for 2024 and realized the HSA provided an almost $100 a month premium advantage and was the clear winner. I could have picked a lower premium, but that policy had higher out of pocket costs and no tax deduction for HSA contribution.

That's what I've found every year until this one. The tax benefit of the HSA contribution doesn't make up for the higher premium cost. Only if I have over $20,000 in medical claims does the best HSA plan come out on top.

 

[COcheesehead]

That's what I've found every year until this one. The tax benefit of the HSA contribution doesn't make up for the higher premium cost. Only if I have over $20,000 in medical claims does the best HSA plan come out on top.

That’s a bummer.

 

[disneysteve]

In my case, I only had two choices.

To some degree, I wish that was the case. I haven't counted but I've probably got a couple dozen choices. It really is quite overwhelming to compare them all.

 

[MichaelB]

When I started researching ACA policies in Florida I found there really were just a few plans, but each plan had many different pricing options, and this gave the appearance of numerous plans and added major complexity to the decision process.

For example, BCBS of Florida has 3 plans. BlueCare, BlueSelect, and Blue Options. The coverage is mandated by ACA regs and is the same across all the plans. The most significant distinction is provider networks are different.

Each offers at least 9 different combinations of deductible, copay and premium, but all the BlueCare planes have the same provider network, and the same holds true for BlueSelect and BlueOptions, so it’s really only 3 plans with lots of ways to pay.

The key then, at least in Fl, is first to identify plans with different provider networks, choose one, and then look at the different combinations of premium and cost share on a spreadsheet to choose.

 

[easysurfer]

I have an HSA. The only impact of not choosing an HSA plan next year is that I won't be able to make an HSA contribution. I can still accumulate medical bills and use them for HSA withdrawals. I'm unclear why this is a factor for you.

I like my HSA contributions and deduction. Plus reimbursements of qualified medical expenses.

 

[RunningBum]

I like my HSA contributions and deduction. Plus reimbursements of qualified medical expenses.

IMO those are factors in favor of an HSA, but not a reason to filter out all non-HSA plans from consideration as you say you did. But it's your call.

 

[easysurfer]

IMO those are factors in favor of an HSA, but not a reason to filter out all non-HSA plans from consideration as you say you did. But it's your call.

Sure makes the selection process simpler .

 

[Alan123]

Thank you

 

[Stormy Kromer]

Owehe!! itis hard. I had an HSA plan for years when I was self employed and filled the HSA to the max each year. I enjoyed the deduction stayed healthy. Built up a large account. Then I lost access to my health plan due to legislation. I found a new plan through the exchange but my health provider, the Mayo system wouldn't accept my new health plan....I was out it the open looking for something new.

Blue Cross pulled out of Minnesota and I was really on my own. I lost my health plan and my doctor. I was told by a man on TV that neither would happen, he was wrong.

I found something, anything, and took it. It was no longer in a HSA plan but it was about $150 a month less with lower deductibles and out of pocket than a HSA compatible plan.

This is with MNSURE. I've looked it all over and am scared to switch back to a HSA plan due to pre existing conditions and we're so close to medicare. And we've never once met our deductible in the years since we lost our previous health plan.

For the love of God I don't know why health insurance plans have to be so complicated and hard to understand, each so different