Help in making insurance decision?

[dgoldenz]

Yeah, that's what I thought too. Not clear at all. Still wonder why the "bronze" plan seems to be such a clear winner. IMHO, insurance is never about good choices for the insured and is always about what's best for the insurance company. That's what makes me nervous. OP - please be very skeptical and very careful before making a choice. Dig deep and ask questions.

The rates for the bronze plan are likely much higher than $350/mo, but the employer is subsidizing a large part of the premium if the retiree chooses that plan instead of the gold or silver. Employers are not required to contribute anything to retiree benefits, so that is their way of rewarding employees, while pushing them away from the cadillac policies that drive up rates for everybody.

 

[kaneohe]

I guess what I don't understand .........if it is obvious, that the bronze
is the best in all situations, why offer the gold/silver at all? Is the company
refraining from being the parent or are they secretly hoping some folks will sign up to help subsidize the rest?

I guess I'm more used to seeing less obvious choices: pay less/get less
or pay more, get more.

 

[ohyes]

You guys came through way better than I had even hoped (I would never read through all that for somebody else, lol).

I am going to print out the responses and highlight all those points to formulate questions and try different scenarios.

Before DH retired in July, we visited with the main person at the AR Dept of Benefits to straighten some things out in our heads. Health insurance was of chief concern and she mentioned that more options were coming down the pipe. Now they are here and I am more confused than ever. Great, just great. I WANT to take the bronze, but not if it is a stupid move.

Thanks again for all the input. It will definitely help- so much to think about, weigh and consider - besides just the savings. (I knew that already, but you folks have certainly helped clarify exactly how much more and what things should be considered).

Thanks again.

 

[brewer12345]

I would bet the plans are offered because there is demand for each and they are all profitable.

 

[Mulligan]

I would bet the plans are offered because there is demand for each and they are all profitable.

When I was still employed, my school was going to offer a second option from the group plan, a higher deductible HSA, and reimburse the premium difference into their HSA. Insurance company said they could do that, but it would wind up costing the school more in insurance costs as all the healthy ones would jump into that causing the total cost to go up as only the unhealthy ones would stay on original plan. They scraped the idea before implementing it.

 

[ohyes]

a few weeks ago i posted an SOS about new health insurance options. Many of you said go with the "bronze" plan. Today we received a scenario comparison (which i had given up on ever seeing). Seems like you guys were correct. Pretty certain it will be bronze for DH and me. Thanks so much, you geniuses, you!

http://portal.arbenefits.org/newsDocuments/PSE_Benefits_Comparison_Guide_Revised_09072011.pdf