Uber Confused: Should I Select A High-Deductible Insurance Plan?
I have been paying full price for COBRA ever since I was laid off from my job November before last. While I paid very little as an employee I am currently paying over $1400 a month for myself, husband and 14 month old son. It’s time for us to find ourselves a new insurance plan, but I am uber confused by all of the options available.
I chose to stay on our current plan for as long as possible, but I am crazy about medical care. I have had a number of medical problems and know that above all else that I am willing to pay for quality care. In fact, I will cut back on just about everything else in my life to make certain we can afford good insurance. Over the years my insurance has paid for all sorts of services and procedures that would have been denied by other carriers.
As an employee I paid very little each month in premiums. Now that my husband and I will need to move over to a new plan, (he is self employed), we will pay the bill in it’s entirety.
I am considering moving over to a high-deductible insurance plan with an HSA. I read all of the paperwork associated with this plan and compared it to the standard PPO, but I’m still not certain which option to select.
I’m hoping someone out there can provide some input on my choices. While I will continue to read about the options I need to make a decision in the next month or two.
Here’s what I know. My husband is rarely sick and has not gone to the doctors for anything other than a physical for as long as I can remember. That doesn’t mean something couldn’t pop up for him. My medical problems came on sudden and strong, but in a typical year health insurance is a lot of money down the drain for him. My son just turned 15 months old. He doesn’t have any known health issues either. For the most part my medical problems are a thing of the past. I haven’t seen a doctor or surgeon in quite some time for my symptoms. I do see massage therapists from time to time, but those services were never covered by insurance anyway.
My husband and I are still debating having a second child. Some days I’m excited about the idea and other days I think I could be perfectly content with just one child. It is conceivable that I would pregnant again by the end of the year or shortly thereafter.
Does anyone have any thoughts on high-deductible plans versus standard PPOs? If so, does anyone know if there is a preferable route I should take if I become pregnant?
An update: To view my decision click here.