For over a decade I bought my health insurance through my employer. I paid a couple hundred dollars a month for a PPO plan and my company subsidized the rest. That insurance plan seemed to cover everything. If I needed to visit an acupuncturist, chiropractor or any type of specialist I paid a small co-pay and very little else. I paid a few hundred dollars for this care and my employer picked up the rest of the tab. I had no idea how valuable that benefit until 2011 when I was laid off.
When my job ended I opted to use COBRA for a year. My son was born a few days prior to the layoff and I wanted solid insurance in case anything should happen. Thankfully we never needed our insurance that year, but we continued to pay a $1500 monthly bill nonetheless.
Shortly before my COBRA coverage was set to expire we switched to a high deductible insurance plan. Even with the high deductible we still pay over a thousand dollars a month. The new insurance plan seems to cover a lot less than the old one. Acupuncture and chiropractic work are no longer included a long with a whole host of other treatments.
I understand that I no longer have access to the rolls royce of insurance plans, but I am amazed by how little the plan covers given that I pay only a few hundred dollars less. The most troublesome part of my new insurance plan is the amount of time it takes them to process claims. My previous insurer would process claims within a matter of days. The new one takes months. I am still waiting on claims from February to be finalized.
Between February and now I visited a multitude of doctors in hopes of curing my antibiotic induced neuropathy. I have a general idea how much my appointments and tests cost, but I have absolutely no idea what I will actually owe. I have to wait to see how the insurance company’s negotiated charges impact the bottom line. I have a $2600 family deductible and at this point I would assume I already owe that entire amount. Though it would certainly be nice to receive an Explanation of Benefits (EOB) detailing that fact.